Shares end up as US rate hike seen unlikely
Print Edition
SHANGHAI stocks edged up at the close yesterday, lifted by commodity shares and lower possibility of a June interest rate hike by the US Federal Reserve.
The Shanghai Composite Index rose 0.07 percent to 2,936.04 points.
Commodity shares gained the most as investors were buoyed by news that the Bloomberg Commodity Index, which tracks 22 raw materials, has risen more than 20 percent since January to enter a bull market. The sector was also buoyed by comments of US Federal Reserve Chairwoman Janet Yellen, which erased any imminent interest rate hike.
Anhui Xinke New Materials Co surged 6 percent while Yunnan Chihong Zinc & Germanium Co jumped 2.9 percent.
Meanwhile, property developers and electricity generators declined as investors stayed cautious ahead of the release of key economic indicators and the upcoming three-day Dragon Boat Festival holiday from tomorrow.
“Investors are reluctant to enter the market due to potential risks during the holiday,” said Huatai Securities.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
