Realty and coal firms lift shares
Print Edition
SHANGHAI stocks edged up yesterday after gains by coal and real estate counters.
The Shanghai Composite Index gained 0.52 percent to end at 3,409.48 points.
Investors were drawn to real estate shares in anticipation that regulations over property markets in Lanzhou in Gansu Province and Hefei in Anhui Province may ease.
This policy easing seeks to proactively maintain the stability of the real estate market, Zhongtai Securities said in a note.
ShangHai ShiMao Co Ltd surged by the daily limit of 10 percent. Greenland Holdings Corp Ltd and China Fortune Land Co Ltd both gained over 8 percent.
Investors were cheered by a new plan, released by 12 ministries and commissions, that aims to merge and reorganize coal enterprises and coal and power pool projects.
Yanzhou Coal Mining Co Ltd surged 9.65 percent to close at 17.39 yuan, Shanxi Coal Internationl Energy Group Co Ltd rose 8.08 percent and Shanxi LuAn Environmental Energy Development Co Ltd gained 7.55 percent.
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