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July 27, 2016

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Shares get liquor fillip to end up

SHANGHAI stocks rose yesterday, helped by liquor companies.

The Shanghai Composite Index added 1.14 percent to close at 3,050.17 points.

Kweichow Moutai gained 2.5 percent to 319.04 yuan (US$47.83) after Shenwan Hongyuan Securities wrote in a research report yesterday that the recovery of consumption of high-quality liquor would bolster companies such as Kweichow Moutai. Sichuan Tuopai Shede Wine Co surged 5.23 percent to 24.76 yuan.

Gold firms shone too as spot gold price rose. Zhongjin Gold Corp added 3.83 percent to 14.36 yuan, and Western Region Gold Co climbed 5.08 percent to 28.76 yuan.


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