Chinese shares trend higher on 1st trading day after the Spring Festival
Chinese shares trended higher on the first trading day after the week-long Spring Festival holiday break, boosted by strong performance of the agricultural sector.
The benchmark Shanghai Composite Index advanced into positive territory after opening 0.19 percent lower at 2,613.17 points. The Shenzhen Component Index gained more than 2 percent after opening 0.15 percent higher at 7,695.17 points.
Companies in the agricultural sector were among the biggest winners, with Jiangxi Zhengbang Technology, a Shenzhen-listed agro-processing firm, jumping by the daily limit of 10 percent.
Beijing Jingxi Culture & Tourism Co., Ltd, an investor of Chinese sci-fi blockbuster "The Wandering Earth", surged by the daily limit after the film claimed the winner of the Chinese box office during the week-long Spring Festival holiday.
The film had earned over 1.94 billion yuan (about 288 million U.S. dollars) since its release on Tuesday as of 7:00 p.m. Sunday, according to Maoyan, a professional box office tracker.
The ChiNext Index, China's NASDAQ-style board of growth enterprises, jumped 2.95 percent as of 11:30 a.m. Monday.