Chinese stocks bounce after mixed start

Business | 11 Feb 2019 11:20 am

Stocks in China trended higher on the first trading day of the Year of the Pig, boosted by the strong performance of the agricultural sector.

The benchmark Shanghai Composite Index advanced into positive territory after opening 0.19 percent lower at 2,613.17 points. The Shenzhen Component Index gained by more than 2 percent after opening 0.15 percent higher at 7,695.17 points.

Companies in the agricultural sector were among the biggest winners, with Jiangxi Zhengbang Technology, a Shenzhen-listed agro-processing firm, jumping by the daily limit of 10 percent.

Beijing Jingxi Culture & Tourism Co, an investor of Chinese sci-fi blockbuster "The Wandering Earth", surged by the daily limit after the film claimed the winner of the Chinese box office during the week-long Spring Festival holiday.

The film had earned over 1.94 billion yuan since its release on Tuesday as of 7:00 p.m. Sunday, according to Maoyan, a professional box office tracker.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, jumped more than 2.5 percent as of 11:00 a.m. today.-Xinhua

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