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A-Shares on 3-Day Climb, ChiNext Prolongs Selloff
The Shanghai Composite Index increased 1.22% to close at 3,114.23, while the Shenzhen Composite Index grew 1.72% to close at 1,104.31 on November 3. Trading volume on the Shanghai and Shenzhen Stock Exchanges reached RMB 170.32 billion and RMB 119.62 billion, respectively.
Securities companies posted gains on Tuesday, after China Merchants Securities announced November 2 that it plans to issue up to 360 million shares to list on the Shanghai Stock Exchange under the ticker "600999," reports Sina. It will be the second securities company to list in the A-shares market in the last five years and China Merchants Group's fourth listed subsidiary, the report said. China Merchants Securities will begin offering online subscriptions on November 10.
Changjiang Securities (000783.SH) climbed 3.68%, Sinolink Securities (600109.SH) rose 2.45%, Haitong Securities (600837.SH) gained 1.87%, Southwest Securities (600369.SH) increased 1.69% and CITIC Securities (600030.SH) grew 1.67%.
Of the 28 companies that listed on the ChiNext on October 30, 19 saw their shares decline by over 5% on November 3, including four by the daily trading limit of 10%, while five of the 28 companies gained, reports Sina. Tuesday was the Nasdaq-style board's third trading day.
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