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January 5, 2017

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Home » Business » Finance

Shares end on winning side again

SHANGHAI stocks extended Tuesday’s gains and closed higher yesterday as investors pursued infrastructure companies and liquor makers.

The Shanghai Composite Index rose 0.73 percent to end at 3,158.79 points.

Major sectors yesterday continued to ride on a positive new year start on Tuesday while smaller caps were also pursued by investors following the easing of liquidity concerns.

Consumer staple shares gained as Lunar New Year related expenditure are expected to boost consumer goods and retail sectors.

Kweichow Moutai rose 5.19 percent to close at 351.91 yuan (US$50.72), while Wuliangye Yibin added 3.58 percent.

Infrastructure shares also increased as China would again invest 800 billion yuan in railway construction this year as it did last year, the official Xinhua News Agency reported General Manager Lu Dongfu at the state-owned China Railway as saying.

China Railway Group Ltd advanced 2.80 percent to 9.18 yuan and China Railway Erju Co added 2.75 percent to close at 14.59 yuan.


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