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June 1, 2017

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Shares edge higher

SHANGHAI stocks closed up yesterday following upbeat data on China’s non-manufacturing sector.

The Shanghai Composite Index edged up 0.27 percent to 3,117.18 points, posting a monthly loss of 1.19 percent — the third consecutive monthly fall.

China’s non-manufacturing purchasing managers’ index added 0.5 points from April to 54.5 points in May, official data showed yesterday.

Retailers gained after Alibaba’s purchase of 18 percent of Lianhua Supermarket Holdings.

Both Shanghai Join Buy Co and Beijing Hualian Hypermarket Co rose by the daily limit of 10 percent.


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