Rise in FDI helps push index to end higher
By Ye Zhen |
April 19, 2013, Friday
|
Print Edition
Print Edition
SHANGHAI stocks edged up yesterday after data showed foreign direct investment in China rose for a second consecutive month in March.
The Shanghai Composite Index added 0.17 percent to 2,197.6 points.
Foreign direct investment in China rose 5.65 percent from a year earlier to US$12.4 billion in March, extending the gain of 6.32 percent in February, the Ministry of Commerce said yesterday, indicating that the world's second largest economy is recovering.
CITIC Securities said in a report yesterday that the key index is expected to fluctuate within a certain range as investors become neutral over the economic recovery, government policies and liquidity.
The report said Premier Li Keqiang reiterated in a State Council meeting yesterday that China will strive to effectively control risks in local government debt. But the report also said the government may unveil stimulus measures to boost domestic demand and stabilize growth to counter a possible downward impact due to risk-control policies.
Paper producers led gainers on talk the yuan's rise will help them trim the cost of importing raw materials, analysts said.
Fujian Nanzhi Co added 3.8 percent to 4.97 yuan (US$). Yanbian Shixian Bailu Papermaking Co climbed 3.3 percent to 5.95 yuan.
The Shanghai Composite Index added 0.17 percent to 2,197.6 points.
Foreign direct investment in China rose 5.65 percent from a year earlier to US$12.4 billion in March, extending the gain of 6.32 percent in February, the Ministry of Commerce said yesterday, indicating that the world's second largest economy is recovering.
CITIC Securities said in a report yesterday that the key index is expected to fluctuate within a certain range as investors become neutral over the economic recovery, government policies and liquidity.
The report said Premier Li Keqiang reiterated in a State Council meeting yesterday that China will strive to effectively control risks in local government debt. But the report also said the government may unveil stimulus measures to boost domestic demand and stabilize growth to counter a possible downward impact due to risk-control policies.
Paper producers led gainers on talk the yuan's rise will help them trim the cost of importing raw materials, analysts said.
Fujian Nanzhi Co added 3.8 percent to 4.97 yuan (US$). Yanbian Shixian Bailu Papermaking Co climbed 3.3 percent to 5.95 yuan.
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