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China Bourse May Add To Its Winnings

(RTTNews) - The China stock market has tracked higher in back-to-back sessions, gathering almost 40 points or 1.3 percent along the way. The Shanghai Composite Index now rests just above the 2,980-point plateau and it's predicted to extend its gains again on Tuesday.

The global forecast for the Asian markets is firm on continued optimism for a trade deal between the United States and China. The European and U.S. markets were up and the Asian bourses are expected to follow suit.

The SCI finished modestly higher on Monday as gains from the oil and insurance companies were capped by weakness from the financials and properties.

For the day, the index climbed 25.12 points or 0.85 percent to finish at 2,980.05 after trading between 2,956.96 and 2,980.13. The Shenzhen Composite Index jumped 25.84 points or 1.58 percent to end at 1,658.24.

Among the actives, Industrial and Commercial Bank of China dropped 0.84 percent, while Bank of China shed 0.54 percent, China Construction Bank skidded 1.08 percent, China Merchants Bank lost 0.55 percent, China Life Insurance spiked 2.39 percent, Ping An Insurance added 0.73 percent, PetroChina rose 0.17 percent, China Petroleum and Chemical (Sinopec) perked 0.20 percent, China Shenhua Energy advanced 0.72 percent, Gemdale tumbled 1.86 percent, Poly Developments plummeted 4.06 percent, China Vanke sank 0.33 percent and CITIC Securities climbed 1.31 percent.
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