(Yicai Global) Jan. 9 -- China's three main indexes opened slightly higher today as shares in auto firms rose on the back of a new preferential policy.

The Shanghai Composite Index was up 0.39 percent at 2,536.42 while the Shenzhen Component Index rose 0.46 percent to 7,425.64. The Growth Enterprise Index, also in Shenzhen, rose 0.02 percent to 1,263.73.

Automobiles and household appliances were among the top gainers, while superconductors, ultra-high voltage and gold sectors were among the biggest losers.

The government aims to boost car and home appliance sales through the new policies, Ning Jizhe, deputy head of the National Development and Reform Commission National Development and Reform Commission told state-backed newspaper the People's Daily in an interview yesterday, adding that it inject stimulus into both markets which have been sluggish.

China's largest auto manufacturer SAIC [SHA:600104] rose 2.8 percent, while Chongqing-based Chang'an Automobile [SZ: 000625] opened 6.3 percent higher and GAC Motors [SHA:601238] rose 3.9 percent.

Washing machine maker Whirlpool [SHA:600983] hit the 10 percent maximum increase allowed in the A-share market while TV maker Hisense [SHA:600060] opened 2.3 percent higher.

The Hang Seng Index opened 1.4 percent higher at 26,237.29 points with Geely Automobile [HK:00175] rebounding 7 percent after slumping 12 percent yesterday.

Xiaomi [HK:01810] slid 5.4 percent as the lock-up period for institutional investors ended six months after the handset maker listed in the special administrative region.

The company's founder Lei Jun and Chief Financial Officer Shou Zi Chew have pledged to hold on to all of their shares for a further 365 days out of confidence in the company's long-term value, according to a statement. 

Editor: William Clegg