F&B firms, retailers lift shares
Print Edition
SHANGHAI stocks rebounded yesterday from their slump after food and beverage companies as well as retailers led the gains in the market.
The Shanghai Composite Index rose 1.78 percent to 3,095.47 points, the largest daily gain in the month.
Investors were also cheered by data showing the official manufacturing Purchasing Managers’ Index growing robustly, and also by the official inclusion of A-shares into the MSCI index yesterday.
Shares of F&B companies Xiangpiaopiao Food Co, Shanghai Laiyifen Co and Mongolia Yili Industrial Group Co all surged by the daily limit of 10 percent.
Tourism firms BTG Hotels Group Co rose 6.71 percent and China International Travel Service Corporation added 6.28 percent.
Retailers Xinjiang Winka Times Department Store Co and Red Star Macalline Group Corporation both advanced over 8 percent.
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