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Shanghai stocks up 1.11% this week over
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SHANGHAI stocks eked out small gains today as investors’ concerns over liquidity were eased, led by gains of property, telecommunication and consumer shares.
The Shanghai Composite Index edged up 0.33 percent to close at 3,157.87 points. For the week, the gauge added 1.11 percent.
China’s central bank said that the liquidity inside the banking system is at a relatively high level, according to an announcement published on its official website today.
Property shares continued to pick up steam, with Beijing Dalong Weiye Real Estate Development Co rose 4.67 percent to 4.93 yuan (US$0.72) and Poly Real Estate Group Co added 3.95 percent to 9.99 yuan.
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