Shares close at highest in almost a month
Print Edition
SHANGHAI stocks yesterday closed at the highest in almost a month, lifted by strong performance of financial shares and consumer goods companies.
The Shanghai Composite Index added 0.46 percent to end at 2,938 points. The index posted a weekly gain of 4.2 percent after speculation that MSCI Inc will include yuan-denominated shares in its global indexes.
Everbright Bank rose 1.09 percent while the Agricultural Bank of China added 0.95 percent.
Consumer shares also gained with Bright Dairy & Food Co adding 6 percent to 12.90 yuan (US$1.96) and Inner Mongolia Yili Industrial Group rising 4.83 percent to 16.28 yuan.
Jufeng Investment said in a research note yesterday that there is still skepticism whether the rebound would continue as economic recovery still faces uncertainty in both internal and external markets.
Meanwhile, Leshi Internet Information & Technology Corp closed 4.17 percent lower at 56.32 yuan following its trading resumption after being suspended for over five months.
It said in an exchange filing yesterday that it has approval from the China Securities Regulatory Commission for a 4.8 billion yuan private placement.
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