Shanghai stocks end higher on late activity
Print Edition
LATE buying lifted Shanghai shares higher in volatile trade yesterday, with investors wondering if the market would stay above the 3,000-point level.
The Shanghai Composite Index added 0.35 percent to 3,009.96 points at close yesterday, swinging between gains and losses every 30 minutes. Trading volumes was in line with the 30-day average.
Brokerages paced wins to pull the gauge. Dongxing Securities Co increased 6.46 percent to 27.87 yuan (US$4.29), and Citic Securities Co rose 2 percent to 18.35 yuan.
“Investors’ risk preference has improved amid hopes of more government measures to come,” Haitong Securities Co said in a note yesterday.
“The market is watching closely on whether the gauge will hold above the key level. If it does, the sentiment will be boosted by further buying.”
The index dipped 0.64 percent on Tuesday after the longest stretch of gains since May.
The gauge has rebounded 13.3 percent from a January low mainly due to optimism over financial market measures.
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