Construction and port plays power Shanghai index

By Ding Yining | March 24, 2017, Friday |

Online Edition

CHINA stocks rose on Friday as strong gains in the infrastructure sector offset concerns over tightening liquidity and fresh curbs on house buying.

The benchmark Shanghai Composite Index rose 0.64 percent to 3,269.45 points and posted a 0.99 percent weekly gain.

Port operators and infrastructure companies were among the gainers as the Belt and Road initiative continues to lure investors. China State Construction Engineering Corporation surged 7.55 percent and Jiangsu Lianyungang Port Co hiked by the daily limit of 10 percent. COSCO Shipping Specialized Carriers Co jumped 5.87 percent to 7.57 yuan (US$1.09).

The consumer electronics segment was strong as industry leaders Midea Group and Gree Electric Appliance Inc added 0.49 percent and 1.09 percent respectively.

Shanghai New Huang Pu Real Estate Co was down 0.24 percent and Gemdale Corporation fell 0.91 percent to 10.84 yuan.

Investors are still quite divided over concerns about liquidity and potential acceleration of initial public offerings in the near future, and the index still faces a lot of pressure at the 3,250-point level, AJ Securities wrote in a research note.

Business

About Us
|
Terms of Use
|
RSS
|
Privacy Policy
|
Contact Us
|
Shanghai Call Center: 962288
|
Tip-off hotline: 52920043

沪ICP证：沪ICP备05050403号-1
|
互联网新闻信息服务许可证：31120180004
|
网络视听许可证：0909346
|
广播电视节目制作许可证：沪字第354号
|
增值电信业务经营许可证：沪B2-20120012

Construction and port plays power Shanghai index

Email this to your friend