Potential new battery sparks life into shares
Print Edition
Shanghai stocks edged up yesterday, helped by a strong showing by the medical equipment and graphene battery sectors.
The benchmark Shanghai Composite Index gained 0.57 percent to 2,239.47 points.
The medical equipment business got a boost after senior officials from two central government bodies met 20 domestic companies on Saturday to promote the sector.
Shinva Medical Instrument gained 4.98 percent to 35.55 yuan (US$5.79), while Top Choice Medical Investment added 1.86 percent to 47.05 yuan.
Tesla Motors recently said it is researching the graphene battery that is said to be able to sustain an electric car for 800 kilometers. Tesla’s decision sparked a rise in the graphene sector.
“The Tesla electric car has become a hot topic in the A-share market. The invention of a new graphene battery will draw constant attention,” said Hithink RoyalFlush Information Network.
Fangda Carbon New Material added 3.96 percent to 11.29 yuan, while Xinjiang Tianfu Energy rose 0.22 percent to 8.96 yuan.
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