Builders help stock market rise for 4th day
Print Edition
SHANGHAI stocks yesterday rose for the fourth consecutive day as strong data gave a boost to road builders and other infrastructure construction companies.
The Shanghai Composite Index gained 0.64 percent to 4,017.68 points.
The Ministry of Commerce revealed yesterday that Chinese companies had signed 1,401 contracts overseas in the first half of this year.
These “concept” contracts, accounting for 43.3 percent of China’s combined overseas contract value, were worth US$37.6 billion, rising 16.7 percent from the same period a year ago.
Chinese companies’ total contract value of projects overseas reached US$86.7 billion in the first six months, up 6.9 percent year on year.
Hubei Chutian Expressway Co, Fujian Expressway Development Co, Shandong High-speed Co and Jiangxi Ganyue Expressway Co all surged by the daily 10 percent limit to 6.55 yuan (US$1.06), 5.36 yuan, 8.54 yuan and 6.68 yuan, respectively.
The China Securities Regulatory Commission on Monday denied the regulator was considering withdrawing funds that were used to shore up the market following panic sell-offs.
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