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June 7, 2017

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Home » Business » Finance

Defense boosts shares

SHANGHAI shares inched up yesterday following gains made by military and defense counters while investor sentiment also rose amid new regulations on initial public offerings, analysts said.

The Shanghai Composite Index added 0.34 percent to 3,102.13 points.

AECC Aero Science And Technology Co and AECC Aviation Power Co grew 6 percent to 26.35 yuan (US$3.9) and 5 percent to 25.35 yuan respectively.

Investment sentiment also “started to rally” as officials approved fewer IPOs, which would help curb capital outflows caused by a flood of new listings, said Wang Delun, analyst at Industrial Securities.


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