Blue-chip shares pull key index to close up
Print Edition
SHANGHAI shares rose yesterday, helped by blue-chip shares such as banks.
The Shanghai Composite Index rose 0.54 percent to end at 3,232.88 points. For the week, the gauge dipped 0.34 percent.
China’s producer prices rose at the fastest pace in over five years in November, official data showed yesterday. Consumer inflation also rose more than expected to 2.3 percent from a year earlier on higher food prices.
“The fast increase in producer prices suggests an improved demand in the macro-economy and better corporate performance,” said Liu Xuezhi, analyst at BoCom’s Financial Research Center.
Banks and infrastructure shares led the gainers, with China State Construction Engineering Corp jumping 8.71 percent to 10.11 yuan (US$1.47) and Bank of Communications, the country’s fifth-biggest lender, rising 4.24 percent to 6.15 yuan.
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