Shares get energy boost to end higher

Advanced Search

The story appears on

Page A10

March 21, 2017

GET this page in PDF

Free for subscribers

View shopping cart

Shares get energy boost to end higher

By Ding Yining | March 21, 2017, Tuesday |

Print Edition

SHANGHAI shares recouped earlier losses to end higher yesterday, helped by strong gains in energy stocks which offset weakness in developers following fresh measures to cool the property market.

The Shanghai Composite Index gained 0.41 percent to 3,250.81 points.

China Shenhua Energy Co surged by the 10 percent daily limit to a 19-month high, after the country’s largest coal miner said it would pay total dividend of 59 billion yuan (US$8.5 billion) in cash after posting a 40.7 percent jump in net profit for 2016.

Shares in the coal sector also surged, with Datong Coal Industry Co rising 2.56 percent and China Coal Energy Co increasing 3.09 percent.

Property shares fell after more cities stepped up home purchasing curbs. Poly Real Estate Group lost 1.23 percent, and Gemdale Corp shed 2.22 percent.

Beijing’s city government announced new measures to rein in its booming housing market after the market closed on Friday.

Over the past week, a number of local governments have stepped up restrictions on property investment.

Finance

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

Shares get energy boost to end higher

Email this to your friend