Hopes for stimulus
Print Edition
SHANGHAI’S stock market rose yesterday as investors speculated that further government stimulus will be unveiled ahead of a key Party meeting next week.
The Shanghai Composite Index added 1.3 percent to 3,412.43 points at the close yesterday. For the week, the gauge gained 0.62 percent.
Environmental and health care shares led the gainers, with Well Lead Medical Co jumping by the 10 percent daily limit to 37.38 yuan (US$5.89) as did Lonjing Environment Technology Co to 17.15 yuan.
“Investors are watching the upcoming meeting closely,” said Li Bo, senior investment consultant at GF Securities Co. “If there is a signal that more easing monetary policies and further reform of state-owned enterprises are on the cards, investor confidence will be boosted.”
A Party plenary session will take place from Monday, and delegates will discuss social and economic issues in the country’s next five-year plan.
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