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December 14, 2018

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Infrastructure optimism helps shares higher

Chinese stocks extended gains yesterday, buoyed by infrastructure-related shares.

The benchmark Shanghai Composite Index surged 1.23 percent to end at 2,634.05 points. The smaller Shenzhen Component Index also jumped 1.43 percent to 7,808.04 points and the CSI 300 index closed 1.55 percent higher at 3,219.69 points.

Stocks of a total of 30 companies listed on the A-share markets shot up, hitting the a daily 10 percent price change cap.

Stocks in high-speed railway led the rise.

Jiangyin Haida Rubber and Plastic Co, Beijing Dinghan Technology Co and Guangdong Huatie Tongda High-speed Railway Equipment Corporation all posted gains by the maximum 10 percent.

The China Railway Corporation said that by the end of 2018, 10 new high-speed railway lines will go into operation, adding 2,500 kilometers to the rapidly growing network.

The household appliances sector was also among the biggest gainers.


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