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June 16, 2017

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Shares edge up on telecom upgrading

SHANGHAI shares rebounded yesterday after telecommunications companies were buoyed following China’s communications upgrading.

The Shanghai Composite Index added 0.06 percent to 3,132.49 points.

Communications companies led the gainers, with Guangdong Super Telecom Co surging by the daily limit of 10 percent to 52.56 yuan (US$7.73), and Zhejiang Shengyang Science And Technology Co gaining 4.83 percent to 18.00 yuan.

The upgrading was boosting the share prices of these firms, said AXA SPDB Investment Managers Co.


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