Shanghai shares record modest gains
Print Edition
SHANGHAI shares rose for a second day yesterday in light trading, as investors do not expect further monetary easing policies in the near term.
The Shanghai Composite Index ended the day up 0.6 percent at 2,843.65 points. Most stocks rebounded from a fifth losing week, with banking being the only major sector that ended down on the day.
Among the best performers were electronics maker Chunghsin Technology Group Co, which rose 6.1 percent to 28.61 yuan (US$4.37), and China Eastern Airlines Corp, which added 3.5 percent to 7.07 yuan.
The index has fallen for the past five weeks as investor confidence waned on signs that policy-makers are becoming more cautious about stimulating share prices in favor of developing a “healthy” market.
“Regulators are trying to do more to manage expectations,” said Frank Lee, acting chief investment officer at DBS North Asia.
“Instead of pouring in funds, they are supporting the A-share market through other methods such as reconstruction of its structure,” he said.
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