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March 14, 2017

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Data help Shanghai shares rise

SHANGHAI stocks rose yesterday after investors were cheered by China’s economic data.

The Shanghai Composite Index added 0.76 percent to 3,237.02 points.

Investors were cheered by economic data showing China’s industrial output grew more than 6 percent in January and February, Ning Jizhe, head of the National Bureau of Statistics, said on Sunday.

The data for January and February showed that China’s economy continued to grow steadily, Ning added. Certain sectors showed signs of a rebound. The high-tech industry grew over 10 percent in the first two months of this year, a quicker pace of expansion than in the same period last year.

Coal, nonferrous metal and electronic shares lifted the index.

Baiyin Nonferrous Group Co surged 9.99 percent to 10.68 yuan (US$1.55), and Anhui Hengyuan Coal Industry and Electricity Power Co rose 4.63 percent to close at 7.69 yuan.


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