Stocks ride on revised Securities Law 
2019-12-31
China stocks performed strongly yesterday after an amendment to the nation’s Securities Law was officially approved as a milestone in China’s capital market reform.
The benchmark Shanghai Composite Index jumped 1.16 percent to 3,040.02 points. The smaller Shenzhen Component Index also soared 1.29 percent to 10,365.96 points, while the blue-chip CSI300 index closed 1.48 percent higher at 4,081.63 points.
The revised Securities Law will go into effect on March 1.
Turnover on the two major bourses totaled 611 billion yuan (US$87.46 billion), shrinking from the previous session’s 632 billion yuan.
Brokerages led the rise, with Founder Securities, SDIC Capital Co and CITIC Securities Co all surging by the daily limit of 10 percent. Furthermore, Anhui Gujing Distillery Co skyrocketed by the maximum 10 percent and Jiangsu King’s Luck Brewery Joint Stock Co advanced over 9 percent. 
Meanwhile, on the SSE STAR Market, stocks of 21 listed companies performed well, one remained flat, while the other 48 posted declines.
