China's stocks close mixed on slower trade growth

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Chinese shares closed mixed Wednesday with the benchmark index easing partly due to milder increases in the country's imports and exports.

The Shanghai Composite Index (SCI) inched up 0.06 percent to finish at 3,415.46 points, while the Shenzhen Component Index slipped 0.18 percent to 11,447.4 points.

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 0.38 percent to close at 1,866.14 points.

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The SCI rose steadily in the morning session, reaching its highest level since the beginning of 2016, until trade data fell short of expectations and dragged down the index. The Shenzhen index followed suit ended down on the day.

In October, exports climbed 6.1 percent year on year, retreating from 9 percent a month ago, and imports expanded 15.9 percent, slower from 19.5 percent in September. Analysts attributed the performance partly to a stronger Chinese yuan.

Combined turnover on the two bourses rose to 558.31 billion yuan (84.24 billion U.S. dollars), slightly up from 525.76 billion yuan on the previous trading day.

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Companies related to Qihoo 360's return to the A-share market rose substantially. SJEC Corporation, which acquired the anti-virus software maker, jumped by the 10-percent daily limit to 10.64 yuan per share. CITIC Guoan Information Industry Company and Shandong Tyan Home Company, thought to hold shares in Qihoo 360, also rose by the daily limit.

Brokerages and media firms were also among the biggest winners, while chip producers, oil refineries and home appliance companies suffered the most.

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Source(s): AP ,Reuters ,Xinhua News Agency