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Coal producers and financial counters drive Shanghai index up
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Shanghai stocks rose in today’s trading, gaining 0.92 percent to 2,226.73 points. The index was driven up by financial shares, as well as the recovery in the coal sector.
Financial institutions benefited from central government’s policies to strengthen the sector, which aims to generate more support to companies facing difficulties in obtaining credit.
Southwest Securities gained 7.23 percent to 10.08 yuan (US$1.6), while Industrial Securities added 4.13 percent to 10.85 yuan.
Coal shares rallied as more companies are joining the trend to lop off output.
Yang Quan Coal Industry rose 6.85 percent to 6.86 yuan, while Beijing Haohua Energy Resource was up 1.94 percent to 6.32 yuan.
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