Shares climb to highest in 2 months
Print Edition
SHANGHAI’S share index rose to the highest in two months yesterday as investors eye business prospects with Britain during President Xi Jinping’s state visit.
The Shanghai Composite Index added 1.14 percent to 3,425.33 points. It traded flat in the morning session but rose in the last 30 minutes of afternoon trading.
China Communications Construction Co, the country’s largest port builder, surged by the 10 percent daily limit to 14.23 yuan (US$2.24).
PetroChina and Sinopec, the country’s two major petroleum companies, rebounded 0.79 percent to 8.97 yuan and 0.39 percent to 5.17 yuan respectively.
Deals worth more than 30 billion pounds (US$46 billion) are set to be sealed during Xi’s state visit from yesterday to Friday, which will create 3,900 jobs in creative industries, retail, energy and financial services, UK Prime Minister David Cameron said in a statement on Monday.
The market was also buoyed by a better performance of China’s financial services which jumped 16.1 percent in the three months through September from a year earlier, according to the National Bureau of Statistics.
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