July 19, 2017 / 2:18 AM / a year ago

China's major stock indexes post modest gains but small-caps continue retreat

SHANGHAI, July 19 (Reuters) - China’s benchmark stock indexes rose on Wednesday, but small caps extended losses on fears that regulators will roll out more tightening measures as they clamp down on riskier types of financing.

The blue-chip CSI300 index rose 0.4 percent to 3,682.26 points by 0202 GMT, while the Shanghai Composite Index also gained 0.4 percent to 3,199.40.

Banks and resources stocks led gains, with an index tracking coal shares up nearly 4 percent.

But Shenzhen’s start-up board ChiNext slid about 0.4 percent.

ChiNext slumped over 5 percent on Monday after President Xi Jinping vowed on Sunday to take stronger action to deal with financial risks, as he announced the establishment of a new financial oversight body.

Nearly 500 stocks, most of them small firms, plunged the 10 percent limit on Monday in what some media described as China’s ‘Black Monday’.

China’s securities regulator said late on Tuesday that it would support efforts to curb risks in capital markets, and would improve the quality of listed companies and improve the delisting system. (Reporting by Samuel Shen and Andrew Galbraith; Editing by Kim Coghill)

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