Shares soar to end above 4,200 points
Print Edition
SHANGHAI stocks rose over 2 percent to finish above 4,200 points yesterday as blue chips soared following new government measures to stimulate China’s exports of equipment.
The Shanghai Composite Index climbed 2.2 percent to end at 4,287.30 points. For the week, it gained over 5 percent.
The Ministry of Commerce on Thursday said the Chinese government will continue to support exports of equipment.
China’s equipment-making sector made US$960 million in outbound direct investment in the first quarter of this year, according to the ministry.
The government will also encourage global cooperation to help Chinese firms in the railway, nuclear power, automobile, ship-building, chemical industry and metallurgy sectors, said spokesperson Shen Danyang on Thursday.
China Railway Group, China Railway Construction Co and China CNR Co all rose by the daily 10 percent limit to 18 yuan (US$2.90), 23.76 yuan and 38.46 yuan.
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