A-shares hit new high as party congress convenes

Chinese share prices hit a new record Monday, with the benchmark Shanghai Composite Index closing above 6,000 points for the first time, Xinhua reported (in Chinese). The index, supported by blue-chip companies such as Sinopec, Baosteel and China Unicom, ended at 6,030.09 points on the first day of the 17th Chinese Communist Party Congress, up 2.15%. The Shenzhen Component Index on the smaller market fell 0.24% to close at 19,088.65 points. The combined turnover of the two bourses remains high at US$36.4 billion. Meanwhile, Hang Seng Index soared 702 points or 2.44%, to the new high of 29541 points.