China Stocks up ahead of Beijing summit

The Mainland China equity market closed higher on Friday, 12 May 2017, as risk sentiments got boosted by central bank's move to inject funds into the market. Investors also get encouraged by the news that Belt and Road Forum for International Cooperation is going to be held this weekend. Shares of banking, insurance companies and those related to the Xiongan New Area were among the biggest gainers today. The benchmark Shanghai Composite Index gained 0.72%, or 22.01 points, to 3,083.51 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, edged 0.06%, or 1.05 points, up to 1,820.20. Over the past week, the Shanghai Composite Index lost 0.63%.

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