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Data And Repos Lift Shares
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SHANGHAI stocks edged up yesterday as rosy data pointed to resilience in the world’s second largest economy and the central bank moved to ease market liquidity ahead of the long weekend.
The Shanghai Composite Index added 0.05 percent to 3,023.51 points.
Industrial materials companies gained after data released by the National Bureau of Statistics showed that China’s industrial output rose 6.3 percent from a year earlier in August, the fastest pace in five months.
Sentiment was lifted after the People’s Bank of China yesterday injected 160 billion yuan (US$2.4) into the financial system through seven-day, 14-day and 28-day reverse repurchase agreements.
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