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Shares end higher after morning loss
Print Edition
SHANGHAI shares yesterday rebounded from the deepest drop in a month, helped by the gains made by financial companies and technology firms.
The Shanghai Composite Index edged up 0.85 percent to end at 3,563.74 points, erasing a loss of 0.51 percent in the morning session.
Brokerages rose, with Dongxing Securities Co adding 4.15 percent to 30.10 yuan (US$4.64).
Car parts manufacturers also jumped, with sensor maker Dongfeng Electronic Technology Co surging by the 10 percent daily limit to 22 yuan. Tuopu Automobile Parts Technology Co jumped 7.35 percent to 29.52 yuan.
“Investors are on the sidelines as the end of the year approaches,” Wang Zheng, Shanghai-based chief investment officer at Jingxi Investment Management Co, told Bloomberg News.
“We still like new-economy stocks that fit well with the theme of China’s economic transformation.”
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