China Market closes higher

The Mainland China stock market ended higher after wavering between positive and negative territories on Tuesday, 29 December 2015, as the central bank vowed to maintain reasonable credit growth and keep the yuan stable. All SSE sectors recorded gains, with gains were led by telecom, energy, technology, material, and financial issues. The Shanghai Composite Index advanced 0.85%, or 29.96 points, to close at 3563.74. The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.95%, or 21.98 points, to close at 2330.35. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, jumped 0.52%, or 14.34 points, to close at 2749.82. The gauge tumbled 2.6% on Monday after data showed falling industrial company profits and concern grew that a new system for initial public offerings will weaken demand for existing stocks.

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