Investors鈥 pursuit of brokerages lifts shares
Print Edition
SHANGHAI shares rose yesterday, helped by investors who pursued brokerages and nuclear energy companies.
The Shanghai Composite Index gained 0.67 percent to 3,373.95 points.
Shenyin & Wanguo Securities said investors were buoyed by the robust revenue of brokerages in December.
Huatai Securities predicted a year-on-year 50 percent surge in December profit for brokerages.
Northeast Securities said investors were also eagerly expecting a quick launch of a stock connect between Shenzhen and Hong Kong — similar to the one between Shanghai and Hong Kong — as Premier Li Keqiang spoke highly of its importance during his visit in Shenzhen on Tuesday.
Brokerages gained. Huatai Securities surged 8.25 percent to 26.89 yuan (US$4.33), CITIC Securities rose 4.15 percent to 36.15 yuan, and Haitong Securities gained 3.36 percent to 24.31 yuan.
Nuclear power companies also got a boost from development plans mapped out at a national energy conference.
Shanghai Electric and Dongfang Electric both surged by the daily limit of 10 percent to 9.55 yuan and 23.19 yuan. Baoding Tianwei Baobian Electric rose 5.02 percent to 7.74 yuan.
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