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February 11, 2017

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Home » Business » Finance

Shares end best week since late November

SHANGHAI shares yesterday rose for a second straight day to post its best week for two and half months.

The Shanghai Composite Index added 0.42 percent to 3,196.7 points, generating its biggest weekly gain of 1.8 percent since November 25.

Investor sentiment was buoyed by stocks related to the Belt and Road initiative, after the Ministry of Commerce said China’s direct investment in 53 countries along the Belt and Road trading routes totaled US$14.5 billion in 2016.

China Communications Construction Co, the country’s largest port construction company, jumped 5.42 percent to 17.89 yuan (US$2.60), and Tibet Tianlu Co, the operator of world’s longest plateau railway Qinghai-Tibet railway, surged 4.82 percent to 11.09 yuan.

Liu Shiyu, chairman of the China Securities Regulatory Commission, pledged to crack down on capital manipulation in the stock market. China will “capture” a group of tycoons, known as “big crocodiles” of China’s stock market, Caixin reported, citing his remarks at the national securities and futures regulatory work conference held in Beijing yesterday.


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