Shanghai shares ride on encouraging index
Print Edition
Buoyed by the better-than-expected key data index for July, Shanghai shares posted modest gain yesterday, amid signs of resilience in the world’s second largest economy.
The benchmark Shanghai Composite Index gained 0.36 percent to 2,052.24 points. The barometer gained 1.1 percent this week, the third straight week it posted gains.
Non-ferrous metal producers paced the gain of cyclical shares, the performance of which is closely related to the health of economy. Inner Mongolia Baotou Steel Rare-earth (Group) Hi-tech Co, China’s biggest producer of rare earth materials, surged by the daily limit of 10 percent to 28.16 yuan. Xiamen Tungsten Co jumped 6.6 percent to 30.92 yuan.
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