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Shares edge up on rosy policy outlook
By Feng Jianmin |
December 13, 2012, Thursday
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Print Edition
Print Edition
SHANGHAI stocks closed slightly higher yesterday as investor sentiment was buoyed by the government's modernization pledge and a favorable economic outlook.
The Shanghai Composite Index added 0.39 percent to close at 2,082.73 points.
The market got a boost after Xi Jinping, general secretary of the Communist Party of China, vowed "no stop in reform and no stop in opening-up" in China's modernization drive.
Wu Jianzhong, analyst with Hongyuan Securities, said: "Hopes for further urbanization and environment protection have driven up related shares and improve the outlook for the economy."
Cement producers led gainers on talk that demand may rise after more projects are launched. Shaanxi Qinling Cement (Group) Co climbed 2.8 percent to 5.10 yuan, and Anhui Conch Cement Co added 1.2 percent to 17.94 yuan.
The Shanghai Composite Index added 0.39 percent to close at 2,082.73 points.
The market got a boost after Xi Jinping, general secretary of the Communist Party of China, vowed "no stop in reform and no stop in opening-up" in China's modernization drive.
Wu Jianzhong, analyst with Hongyuan Securities, said: "Hopes for further urbanization and environment protection have driven up related shares and improve the outlook for the economy."
Cement producers led gainers on talk that demand may rise after more projects are launched. Shaanxi Qinling Cement (Group) Co climbed 2.8 percent to 5.10 yuan, and Anhui Conch Cement Co added 1.2 percent to 17.94 yuan.
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