Chinese stocks close higher on Friday

BEIJING -- Chinese shares posted strong daily gains on Friday, with investor confidence assured by the latest electricity consumption data and positive signals from the national securities regulator.

The benchmark Shanghai Composite Index inched up 1.68 percent, or 35.32 points, to close at 2,135.83. The Shenzhen Component Index rose 1.83 percent, or 149.37 points, to finish at 8,305.91.

Total turnover on the two bourses expanded from 158.9 billion yuan ($25.90 billion) on Thursday to 232.4 billion yuan on Friday.

China's total power consumption continued its growth momentum in October, up 9.5 percent year- on-year, with industrial power consumption rising 7.2 percent from a month ago, according to official data on Thursday.

Also on Thursday, Xiao Gang, chairman of China Securities Regulatory Commission, said China's capital markets will embrace a new round of opportunities as the recently-concluded Communist Party of China plenum pointed out the important role of the capital market in China's economy.

All major sectors were lifted on the Shanghai and Shenzhen exchanges. A total of 44 stocks rose by their daily limit of 10 percent and another 134 increased by more than 5 percent.

Aircraft manufacturers led the gains with the sub-index for the sector up 4.65 percent. Shaanxi Aerospace Power Hi-Tech Co Ltd, headquartered in Xi'an, gained 10 percent to close at 13.42 yuan per share.

Securities companies also posted strong performances, with the financial sector sub-index ending 3.92 percent higher. The Shenzhen-listed Sealand Securities Co, Ltd. jumped 10 percent to 10.74 yuan per share.

The ChiNext Index, a Nasdaq-style board tracking China's growth enterprises, added 1.55 percent to close at 1,269.05.