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Shanghai Composite rises to 2-week high
By Zhu Shenshen |
May 7, 2013, Tuesday
|
Online Edition
Online Edition
SHANGHAI stocks advanced for the third straight day today, led by mines, car makers, and logistics companies.
The Shanghai Composite Index closed 0.20 percent higher to a two-week high of 2,235.57 points, following a 1.2 percent jump yesterday.
The strong investor sentiment was mainly driven by expectations that the Chinese government may soon take measures to stabilize a slowing economy, analysts said.
Mining stocks were among the biggest gainers today. Jiangxi Copper rose 3.6 percent to 21.33 yuan (US$3.45). Western Mining gained 1.6 percent to 7.17 yuan, while Yunnan Copper added 3.2 percent to 12.51 yuan.
Automobile stocks surged. FAW Car Co jumped by the daily limit of 10 percent to close at 14.09 yuan, while Shanghai Jiaoyun Group leaped 10 percent to 4.47 yuan.
China is expected to release trade data tomorrow. More incentive policies are expected to stimulate the economy.
The Shanghai Composite Index closed 0.20 percent higher to a two-week high of 2,235.57 points, following a 1.2 percent jump yesterday.
The strong investor sentiment was mainly driven by expectations that the Chinese government may soon take measures to stabilize a slowing economy, analysts said.
Mining stocks were among the biggest gainers today. Jiangxi Copper rose 3.6 percent to 21.33 yuan (US$3.45). Western Mining gained 1.6 percent to 7.17 yuan, while Yunnan Copper added 3.2 percent to 12.51 yuan.
Automobile stocks surged. FAW Car Co jumped by the daily limit of 10 percent to close at 14.09 yuan, while Shanghai Jiaoyun Group leaped 10 percent to 4.47 yuan.
China is expected to release trade data tomorrow. More incentive policies are expected to stimulate the economy.
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