Military manufacturers propel local stocks
Print Edition
SHANGHAI stocks edged up yesterday boosted by shares in the military sector.
The Shanghai Composite Index added 0.11 percent to 2,209.47 points. Xi’an Aero-Engine soared to the daily maximum of 10 percent to 28.37 yuan (US$4.62), while Sichuan Chengfa Aero Science & Technology skyrocketed 9.97 percent to 17.31 yuan.
According to Guotai Junan Securities, plans are afoot to reform the pricing structure of military products and the shareholding of military state-owned enterprises.
These measures will streamline the management structure of the companies that manufacture military products.
IT company China National Software & Service climbed 4.01 percent to 27.26 yuan, while Beijing Zhongchuang Telecom Test gained 5.01 percent to 28.09 yuan.
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