Index rises to highest in over 2 months
Print Edition
SHANGHAI shares rose to the highest in more than two months yesterday as investors hope that a meeting of China’s Party policy-makers will result in policies to sustain steady economic growth and improve industrial structure.
The Shanghai Composite Index edged up 0.14 percent to 3,434.34 points, the highest since August 21.
The index touched a low of 3,332.62 points, or dropping nearly 3 percent, during morning trading but rebounded on hopes that liquidity will be abundant and government support for the economy and new industries.
Party policy-makers are holding a four-day meeting in Beijing, which ends tomorrow, to discuss China’s overall strategy under the 13th Five-Year (2016-2020) Plan.
Computer and software firms led gainers. Financial service provider Shanghai DZH jumped by the daily limit of 10 percent despite the company last week forecasting a loss for the first three quarters of this year. Tsinghua Tongfang Co jumped 6 percent to 18.18 yuan (US$2.86).
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