Investors’ return gives shares a heave
Print Edition
SHANGHAI stocks extended a winning run to four days when they rose yesterday, after China’s private service sector grew at the fastest pace in 15 months.
The Shanghai Composite Index added 0.19 percent to 2,063.23 points.
The HSBC China Services Business Activity Index rose to 53.1 in June from 50.7 in May, HSBC Holdings Plc said yesterday. The index was at its highest since March 2013 as evidence of a rebounding economy grew.
Sentiment has been rising amid a brighter economic outlook and an improving liquidity condition.
“The trading volume keeps increasing in recent days in a sign that investors are coming back to the market,” said Niu Chunbao, analyst at Northeast Securities.
Port operators gained amid hopes that President Xi Jinping’s visit to South Korea will boost negotiations for a bilateral free trade agreement.
Jiangsu Lianyungang Port added 2 percent to 4.50 yuan (72 US cents). Rizhao Port surged 9.9 percent to 3.21 yuan.
Shares related to Dalian gained after the State Council agreed to build a global shipping and logistics hub there. Dalian Port jumped by the daily limit of 10 percent to 3.50 yuan. Dalian Sunasia Tourism rose 5.2 percent to 17.42 yuan.
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