(Yicai Global) Dec. 28 -- Chinese stock markets on the mainland advanced modestly on the last trading day of this year as few corporate news related to satellites, 'China's Hawaii' Hainan and baijiu distiller Kweichow Moutai helped to buoy the downbeat market.

The Shanghai Composite Index rose 0.44 percent to 2,493.90, with CNY106 billion (USD14.47 billion) worth of shares changing hands. The final reading for the day is down 24.6 percent from the start of this year, which made it one of the worst-performing global markets. The Shenzhen Component Index rose 0.34 percent to 7,239.79, down 34.42 percent from the first day of January. The Growth Enterprise Index rose 0.2 percent to 1,250.53, a number that is 28.65 percent lower from early January.Trade frictions, among other investor worries, have wiped out USD2.3 trillion of Chinese equities, as of Dec. 26, according to Bloomberg data. 

Several Hainanese firms, as well as equipment and software suppliers to the BeiDou Navigation Satellite System, advanced after the government released that the country's positioning system has reached global coverage now and that efforts will be made so that the southern island province will become a top-ranking international tourism destination by 2035. Equities related to ultra-high voltage pared gains logged in the past two days.  

Liquor maker Kweichow Moutai [SHA: 600519] climbed nearly 5 percent to pivot at CNY590.8 (USD86.20) at the close. The Zhunyi-based firm announced today that its 2019 target is to sell about 31,000 tons of baijiu, which is 11 percent more than this year's goal. 

Editor: Emmi Laine