The story appears on

Page A9

July 3, 2020

GET this page in PDF

Free for subscribers

View shopping cart

Related News

Home » Business

Stocks maintain rally

Chinese stocks continued to rally yesterday on a good day for investors. Total trading volume on the two bourses came to 1.08 trillion yuan (US$152.8 billion), a four-month record.

The benchmark Shanghai Composite Index climbed 2.13 percent to close at 3,090.57 points, boosted by blue chips such as financials and property developers.

The smaller Shenzhen Component Index gained 1.29 percent to finish at around 12,269.49 points, while the ChiNext Index edged up 0.2 percent to end on 2,424.39.

Non-banking financial institutions, real-estate firms and infrastructure construction were mostly higher. Zhongtai Securities, China Merchants Securities and 13 other securities brokers saw their shares jump by the daily limit.

Part of the local government special bond issuance quota will be used to replenish the capital of small and medium-sized banks, according to a State Council note yesterday.

Small lenders, especially those in relatively poor inland regions, are a weak spot in the financial system, said Nomura.

It expects Beijing to provide more support for banks, especially smaller players, as they play an important role in funding small private firms and low-income individuals which have suffered more from the COVID-19 pandemic.


Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend