Shares surge to 3-month high on March data
Print Edition
SHANGHAI shares yesterday increased to a three-month high on a rebound in China’s exports in March and a recovery in investor sentiment as macro data signaled a recovery in the economy.
The Shanghai Composite Index gained 1.42 percent to 3,066.64 points yesterday, posting its highest close since January 8.
China’s exports in March grew 11.5 percent from a year earlier in dollar terms, reversing a 25.4 percent slump in February.
“All March data released so far suggested economic growth momentum improved after a weak January-February, boosted by previous policy easing and a rebound in the property market,” Nomura Securities Co wrote in a note yesterday.
Data on Monday showed that producer prices rose, pointing to signs of a rebound in industrial demand.
Yanzhou Coal Mining Co jumped 8.15 percent to 11.81 yuan (US$1.82), leading gains by coal producers.
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