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February 9, 2017

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Shares end up after earlier loss

SHANGHAI shares closed yesterday at nearly a one-month high after offsetting earlier losses stemming from data that showed China’s foreign exchange reserves fell below the psychological level of US$3 trillion in January.

The Shanghai Composite Index ended up 0.44 percent to 3,166.98 points, its highest since January 11.

The gauge lost 0.66 percent in the morning session after data showed China’s forex reserves fell US$12.3 billion from December to US$2.998 trillion last.

But the sentiment improved in the afternoon session. Central China Securities Co surged by the 10 percent daily cap to 8.66 yuan (US$1.26), and CITIC Securities Co added 1.35 percent to 16.52 yuan.


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