China stocks close higher on Monday

BEIJING - Chinese shares gained on Monday as economic data boosted market sentiment.

The benchmark Shanghai Composite Index rose 0.92 percent, or 19.57 points, to finish at 2,135.42. The Shenzhen Component Index gained 0.76 percent, or 60.21 points, to close at 7,943.96.

Combined turnover on the two bourses expanded to 310.37 billion yuan($50.83) from 245.77 billion yuan on the previous trading day.

China's consumer price index (CPI), a main gauge of inflation, rose 2.5 percent year on year in January, the same as the previous month, official data revealed last Friday.

Shares related to national security led the gains, as the National Security Commission is expected to be established in March. Aerospace Communications Holdings Co Ltd gained 9.98 percent to reach 14.54 yuan per share.

Meanwhile, shares related to online-to-offline shopping (O2O) were boosted by Internet giant Tencent's purchase of a 20-percent stake in Dianping, a restaurant ratings and group buying website, at $400 million.

Shares related to the transportation and banking sectors led the losses. Loan disbursement of China's banks in January hit a four-year high, but suffered a heavy reduction in deposits.

The ChiNext Index, a NASDAQ-style board tracking China's growth enterprises, rose 2.83 percent, or 42.83 points, to end at 1,558.62 points.

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