Sport shares give lift to index
Print Edition
SHANGHAI stocks edged up yesterday with sports-related shares rising as the country seeks to promote the sector.
The Shanghai Composite Index gained 0.36 percent to finish at 3,387.32 points.
Sports and sports facility-related shares gained after the General Administration of Sport released a guideline yesterday to promote the sports industry and encourage the building of more sports infrastructure. The guideline also urged that sports for the elderly be included in the nationwide fitness programs.
Jiangsu Sainty Corp, whose parent company owns a soccer club in China’s top-tier league, rose 3.11 percent to 12.28 yuan (US$1.93), and China Sports Industry Group Co climbed 2.33 percent to close at 22 yuan.
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