China stocks extend gains as small caps, tech outshine blue chips
BEIJING Jan 16 (Reuters) - China stocks climbed higher on Friday as gains on Shenzhen's ChiNext Composite, focused on small cap and tech stocks, outstripped blue chip heavy Shanghai.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.9 percent, to 3,635.15, while the Shanghai Composite Index gained 1.2 percent, to 3,376.50 points.
For the week, the CSI300 climbed 2.5 percent and the Shanghai Composite rose 2.8 percent.
The ChiNext Composite climbed 2.8 percent to end the day at 1,705.43.
The premium between dual-listed companies in the mainland and Hong Kong hit 133.62, its highest point since October 2011, as the markets once again moved in opposite directions.
Trainmaker China CNR hit the upper 10 percent trading limit, as it is viewed as a favorite to win a major Mexican rail project.
The CSI300 banking sub-index gained following the morning's announcement that the central bank would increase relending quotas to banks by $8.1 billion.
The energy sub-index gained 0.7 percent after the National Energy Administration released data that China consumed 3.8 percent more energy in 2014 compared to the previous year.
Among the most active stocks in Shanghai were Bank of China , up 2.7 percent to 5.00 yuan; Agricultural Bank of China, up 2.1 percent to 3.94 yuan and Bank of Communications, up 5.3 percent to 7.21 yuan. Continuación...