Chinese Stocks Close Monday with Gains Despite Weak Trade Data

MT Newswires Live09-08

Chinese shares made gains at the start of the week despite their trade data slowing down in August.

The Shanghai Composite Index rose 0.4%, or 14.33 points, to close at 3,826.84 on Monday. The Shenzhen Component Index jumped 0.6%, or 76.28 points, to 12,666.84.

On a year-on-year basis, China's exports jumped by 4.4%, while imports rose by 1.3%, according to the Customs Administration. The figures missed the respective 5% and 3% growth predicted by analysts polled by Reuters.

In corporate news, Wanhua Chemical (SHA:600309) soared nearly 6% after the operations of the production facilities of its Hungarian subsidiary, BorsodChem, resumed following maintenance works.

Jilin Electric Power (SHE:000875) jumped 4% after receiving 913 million yuan in national renewable energy subsidy funds in August.

Muyuan Foods (SHE:002714) rose nearly 4% despite its revenue from its commercial pig sales dropping 12% year on year to 11.9 billion yuan in August.

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