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Shanghai stocks buoyed by China-Thai railway cooperation
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Shanghai shares rose to a one-month high today as railway stocks surged on the prospect of cooperation between China and Thailand to build high-speed rails in Thailand.
The benchmark Shanghai Composite Index rose 0.43 percent to 2,237.77 points. Turnover reached 151.6 billion yuan.
The prime minister of Thailand said China showed interest in developing the country's high-speed rail system. As a result, China Railway Group surged by the daily limit of 10 percent to 3 yuan while China Railway Construction Corp jumped 9.04 percent to 5.43 yuan.
China CNR Corp, one of the nation's biggest bullet train makers, jumped by 10 percent daily limit to 4.59 yuan.
Shanghai free trade zone-related stocks continued their slide in market correction amid the fall of heavy-weight lenders and real estate developers. Shanghai Waigaoqiao Free Trade Zone Development Co tumbled 7.23 percent to 50.70 yuan, the lowest in 10 trade days.
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