Chinese Mainland: Shenzhen-Based Companies

chinese mainland: In total, 66 Shenzhen-based companies listed in the Chinese mainland achieved an average gain of 5.6 percent, while the benchmark Shanghai Index climbed 2.1 percent to close at 2,883.1 points, according to Global Times China. Shares of Shenzhen-based companies in the real estate, brokerage, telecommunications and new-energy industries posted solid gains, while state-owned companies based in the city led the rally. The announcement led to gains in the Chinese stock market, which has been weakened recently by the ongoing trade war with the US. The central government's plan was seen by observers as a move to upgrade the city and enable it to become one of the most advanced in the world. Utility Shenzhen Gas Corp, infrastructure specialist Shenzhen Airport Co, and port operator Shenzhen Yan Tian Port Holdings Co soared by the10 percent daily limit shortly after trading began. An employee at a Shenzhen-based fund told the Global Times on Monday that many people around him bought shares that reached the daily upward limit on Monday. Shares of brokerage firm Guosen Securities Co and First Capital Securities Co reached the 10 percent threshold during afternoon trading. (news.financializer.com). As reported in the news.