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November 23, 2016

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SHANGHAI stocks yesterday rose to a 10-month high, driven by expectations of an improving economy.

The Shanghai Composite Index gained 0.94 percent to end at 3,248.35 points. The margin trading balance outstanding on China’s stock market, which measures the use of borrowed money in stock transactions and is viewed as an indicator of investor sentiment, hit a 10-month high of 954.4 billion yuan (US$138.6 billion) on Monday. Thanks to the stabilizing economy and a low base in 2015, listed firms posted better results in the third quarter, Cinda Securities said in a note. China biggest oil producer PetroChina Co rose 2.54 percent to 7.67 yuan, and China State Construction Engineering Co added 6.47 percent to 9.05 yuan.


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