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January 18, 2017

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Industry plan lifts shares

SHANGHAI stocks edged up yesterday after a five-day losing streak, as energy companies rose on an industry plan.

The Shanghai Composite Index closed 0.17 percent higher at 3,108.77 points yesterday.

Investors were buoyed by the five-year (2016-2020) plan for the energy sector, which was released by the National Development and Reform Commission yesterday and will encourage oil and gas reform, and increase financial support to promote advanced exploitation of oil and gas.

China Petroleum & Chemical Co added 0.5 percent to 5.99 yuan (87 US cents), PetroChina Co gained 0.23 percent to 8.54 yuan, and Anhui Province Natural Gas Development Co jumped 10 percent to 18.25 yuan.


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