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China stocks climb during morning trade on Wednesday

(Global Times)    13:24, January 09, 2019

China stocks climbed during morning trade on Wednesday, buoyed by domestic consumption stimulating plans and the overnight US stock rally, with auto and home appliance parts leading the gains.

Three major indexes opened high and extended the rally during morning trade. At the end of the morning session, Shenzhen Component Index rose 1.82 percent, the Shanghai Composite Index added 1.59 percent, ChiNext rose 1.21 percent.

Auto, wine and home appliance parts stocks rallied in the morning, with more than ten shares rising by the 10 percent day limit, including Jinbei Auto, Haima Auto, Fenda Technology, and Hisense.

China plans to introduce policies to boost domestic spending on items such as autos and home appliances this year, Ning Jizhe, vice chairman of National Development and Reform Commission(NDRC), said in an interview with CCTV on Tuesday.

US stocks traded higher on Tuesday over China-US trade talks. The S&P 500 index rose 0.97 percent, the Dow Jones industrials picked up 1.09 percent, and the NASDAQ rose 1.08 percent.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Liang Jun, Bianji)

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