Financial, real estate counters lead index up

By Ji Xiang | August 11, 2014, Monday |

Online Edition

SHANGHAI stocks rallied 1.07 percent to 2,218 points in midday trading, as blue chips bounced out of last week’s quandary. Finance and real estate sectors performed well, providing the lead momentum for the market.

Blue ships began to gain ground last Friday, after a round of profit-taking made prices fall in the first four days of last week. The market today maintained the optimism, with major sectors surging.

As three risk control indicators are likely to get reset to suit the market, financial shares went up accordingly. Pacific Securities rose 3.36 percent to 7.70 yuan, while Avic Capital gained 3.10 percent to 18.62 yuan.

Real estate shares surged, marking an end to last week’s general decline. Shanghai Shibei Hi-tech was up 10.01 percent to 11.43 yuan, while China Sports Industry Group gained 9.97 percent to 11.58 yuan.

Finance

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Financial, real estate counters lead index up

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