Consumer-staples stocks lead China market rally
Capital Market The Mainland China stock market ended sharply higher on Monday, 21 December 2015, as risk sentiments bolstered on bet the government will accelerate reform of state-owned enterprises. Meanwhile, bargain buying in blue chips stocks were also inspired by recent wave of share acquisitions by yield-seeking insurance firms. All 10 SSE industry groups advanced, with shares of consumer-staples led gainers. The Shanghai Composite Index advanced 1.77%, or 63.51 points, to close at 3642.47. The Shenzhen Composite Index, which tracks stocks on China's second exchange, grew 0.96%, or 22.39 points, to close at 2357.99. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, declined 0.01%, or 0.34 points, to close at 2829.92.
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