Rebound in China’s trade lifts key index
Print Edition
SHANGHAI stocks edged up yesterday after data showed that China’s trade rebounded, reflecting a recovery in demand.
The benchmark Shanghai Composite Index gained 0.26 percent to 2,015.27 points.
Exports added 0.9 percent from a year earlier to US$188.5 billion last month, reversing the fall of 6.6 percent in March, the General Administration of Customs said yesterday.
Imports gained 0.8 percent to US$170.1 billion, a slight recovery from the 11.3 percent slump a month earlier, the data showed.
“We are positive about the data,” said Xu Gao, an analyst of Everbright Securities. “The increase in imports shows that stabilizing policies are taking effect, while consumption of industrial raw materials picked up, supporting a recovery in heavy industries.”
But the market gains were limited as there is pressure on liquidity following the resumption of initial public offerings, Western Securities said yesterday.
Datong Coal Industry Co jumped 10 percent to 5.31 yuan (85 US cents), and Anhui Hengyuan Coal Industry and Electricity Power Co rose 5.2 percent to 5.48 yuan.
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