China's Stock Markets Gain Traction, Towed by New Energy Vehicles
Xu Wei
DATE:  Sep 11 2017
/ SOURCE:  Yicai
China's Stock Markets Gain Traction, Towed by New Energy Vehicles China's Stock Markets Gain Traction, Towed by New Energy Vehicles

(Yicai Global) Sept. 11 -- The Shanghai and Shenzhen stock markets rose on Monday as a report that China was mooting a timetable for phasing out fossil fuel vehicles drove a rally among new energy vehicle stocks, but insurance shares slid for the third day in a row.

The Shanghai Composite Index closed at 3,376.42 points for the entire day, up 0.33 percent as 256.9 billion yuan changed hands.

The Shenzhen Component Index was up 0.76 percent to close at 11,053.73 points, with turnover of 332.9 billion yuan.

The Growth Enterprise Index rose 0.59 percent to 1896.38 points, seeing CNY91 billion in transactions.

Xin Guobin, China's vice minister of industry and information technology, said at a car industry forum on Sept. 9 that his ministry had started to investigate the timing of a ban on the sale of traditional internal combustion automobiles, and would work out a timetable for this with relevant bureaus, the official Xinhua News Agency reported.

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Keywords:   Shanghai Composite Index,Shenzhen Component Index,Growth Enterprise Index,A-Share