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October 12, 2017

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F&B firms pull shares to end up

SHANGHAI stocks again ended higher yesterday, boosted by gains made by food and beverage counters.

The Shanghai Composite Index added 0.16 percent to close at 3,388.28 points.

Food and beverage shares were the biggest gainers. Jiangxi Huangshanghuang Group Food Co rose 9.99 percent to 22.47 yuan while liquor producers such as Jinhui Liquor Co Ltd advanced 6.96 percent to 22.89 yuan and Anhui Golden Seed Winery Co Ltd added 6.38 percent to 9.67 yuan.

Kweichow Moutai Co Ltd, China’s largest liquor maker by market value, climbed 1.06 percent to a new high yesterday. The liquor maker’s expected earnings per share may be raised to 17.93 yuan this year and 23.65 yuan next year, China Merchant Securities said, adding that target price could rise to 640 yuan.

Logistics firms also rose, with GuangDong GenSho Logistics Co Ltd, Guanghui Logistics Co Ltd and Nanjing Inform Storage Eqpmnt Grp Co Ltd all surging by the daily 10 percent cap. Yunda Holding Co Ltd rose 5 percent to to end at 50.62 yuan.


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