Coal miners shine amid bleak stocks

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September 29, 2020

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Coal miners shine amid bleak stocks

By Yuan Luhang | 00:00 UTC+8 September 29, 2020 |

Print Edition

China stocks dipped yesterday with most sectors losing.

At close, the Shanghai Composite Index was down 0.06 percent at 3,217.53 points while the smaller Shenzhen Component Index lost 0.42 percent. The ChiNext Composite Index shed 0.75 percent.

The STAR 50 Index, which tracks the 50 biggest and most representative companies listed on the tech-heavy STAR Market for more than six months, slumped 1.84 percent.

But the bluechip CSI300 index was up 0.26 percent, as the profits of China’s large industrial firms grew for a fourth straight month in August, buoyed in part by a rebound in commodity prices and equipment manufacturing, the National Bureau of Statistics said on Sunday.

Bucking the trend, coal mining led the gains with the sector’s index gaining 2.74 percent as profits increased rapidly in August on rising prices.

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Coal miners shine amid bleak stocks

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