Shares close higher as market finds stability
Print Edition
SHANGHAI stocks edged up yesterday as the market continued to stabilize following earlier slumps.
The benchmark Shanghai Composite Index added 0.16 percent to close at 2,837.04 points amid cautious investor sentiment.
“As the country’s macro-economic and liquidity environment both remain stable, no major capital flows are expected to come into or be withdrawn from the stock market, which means no notable increase or decrease in the key index,” said Xun Yugen, an analyst with Haitong Securities.
“In the short term, the wait-and-see momentum will prevail in the market.”
Airlines gained yesterday, with Juneyao Airlines surging 8.9 percent, the most among all air carriers, followed by Hainan Airlines which rose 8.4 percent and China Southern Airlines which added 6.8 percent.
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