Financial firms lift Shanghai shares
Print Edition
SHANGHAI stocks jumped yesterday as financial companies contributed to the surge.
The Shanghai Composite Index rose 1.91 percent to close at 2,988.6 points.
Gao Ting, head of China strategy at UBS Securities, said in a note that market expectations “are running high for the approval of the Shenzhen-Hong Kong Stock Connect and an expansion of the quota for the Shanghai-Hong Kong connect.”
Brokerages lifted financial shares. China Merchants Securities rose 4.1 percent to 17.25 yuan (US$2.59). China Life Insurance gained 2.4 percent to 21.33 yuan, and the Agricultural Bank of China added 1.55 percent to 3.27 yuan.
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