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February 25, 2017

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3rd straight week up

SHANGHAI stocks edged up yesterday, with the main index up for the third straight week.

The Shanghai Composite Index added 0.06 percent to 3,252.43 points. For the week, the gauge gained 1.6 percent. Market sentiment improved yesterday afternoon as recent Chinese government policies have highlighted infrastructure such as airports, railways and telecommunication networks “as China will boost construction to bolster the economy,” said Liu Ying, a private equity fund manager. “Investors have been actively seeking opportunities among industries backed by the infrastructure policies.”

China United Network Communications jumped 8.1 percent to a six-week high as the country will start work on pilot projects of 5G mobile communications services in the second half of this year.



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