Shares rise on energy revamp vow
Print Edition
SHANGHAI stocks rose yesterday as investors were assured by government pledges of structural reform for energy producers.
The Shanghai Composite Index closed 1.25 percent higher at 2,916.56 points. For the week, the gauge lost 4.23 percent.
Investor sentiment was buoyed by news that the government will provide 100 billion yuan (US$15.2 billion) a year to trim outdated and excessive capacity in the coal and steel industries, the Economic Information Daily reported yesterday.
Premier Li Keqiang called for supply-side reforms and industry restructuring as well as faster development of new economic drivers, the State Council said in a statement.
Anyuan Coal Industry Group Co rose 6.87 percent to 5.29 yuan. Xining Special Steel advanced 6.63 percent to finish at 5.63 yuan.
The resumption of initial public offerings was set to boost brokerages’ earnings. Everbright Securities rose 3.02 percent to 18.09 yuan.
- 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.
