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March 21, 2018

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Good dose of medicine helps index

SHANGHAI stocks ended higher again yesterday, with 19 companies surging by the daily 10-percent cap.

The Shanghai Composite Index gained 0.35 percent to end at 3,290.64 points.

Pharmaceutical shares led the gains after Premier Li Keqiang said that tariffs on anti-cancer drugs will be cut to zero and that access to the service sector including medical services will be eased.

GuiZhou YiBai Pharmaceutical Co Ltd, Shaanxi Kanghui Pharmaceutical Co Ltd and Tibet Weixinkang Medicine Co Ltd all hit the maximum 10-percent daily cap.

Shares related to reform of state-owned enterprises extended gains after Xiao Yaqing, director of the State Asset Regulatory Commission, said the third batch of SOEs to be reformed is set to be released in the first half of this year.

His remark helped SDIC Zhonglu Fruit Juice Co Ltd, Sinomach General Machinry Sci&Tech Co Ltd and Linhai Co Ltd to hit the maximum 10 percent cap.


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