Chinese stocks end higher, Apple-linked shares fall

Source: Xinhua| 2017-09-13 16:51:51|Editor: Liangyu
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BEIJING, Sept. 13 (Xinhua) -- Chinese stocks saw mild fluctuations on Wednesday, with the benchmark Shanghai Composite Index ending 0.14 percent higher at 3,384.15 points.

The Shenzhen Component Index went up 0.43 percent to close at 11,091.49 points. Combined turnover on the two bourses shrank to 539.7 billion yuan (about 82.5 billion U.S. dollars) from the 757 billion yuan the previous trading day.

Shares of Apple-related firms dropped after Apple Inc. unveiled its latest version of smartphones. Zhejiang Crystal Optech Co. slumped 6.68 percent to close at 26.69 yuan per share, while Desay Battery went down 4.43 percent to 55.2 yuan.

Shares related to ethanol gasoline led the gains on Wednesday as authorities published a plan for nationwide use of the fuel by 2020.

Ethanol fuel, known as E10, contains 10 percent corn. It is commonly used worldwide since it is believed to cut carbon monoxide and carbon dioxide emissions and help ease the energy supply bottleneck.

China aims to build an advanced liquid biofuel system and put into operation a demonstration facility that will be able to produce 50,000 tonnes of cellulosic ethanol a year by 2020.

Shares of Shandong Longlive Bio-Technology surged by the daily limit of 10 percent to 10.21 yuan, and Shandong Denghai Seeds Co. gained 6.91 percent to end the day at 15 yuan.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, rose 0.21 percent to close at 1,888.43 points.