Stocks close higher, ending month with 5.25% gain

By Zha Minjie | August 30, 2013, Friday |

Online Edition

Shanghai shares gained slightly today, led by Shanghai free trade zone concept stocks. The key Shanghai Composite Index rose 0.06 percent to 2,098.38 points. Daily turnover was 132 billion (US$21.56 billion).

Shanghai stocks ended August with a 5.25 percent gain.

"The trend in September shouldn’t be disappointing," said Wei Yingjie, analyst at Orient Securities, adding that three factors decide the performance of the A-share market: economic data, Federal Reserve's bond buying, and industrial reforms.

Shanghai Composite climbed to 2,114 points early in the afternoon before plunging below the 2,100-point mark.

Everbright Securities Co, the brokerage that roiled China’s stock markets with erroneous buy orders on August 16, was suspended today and will resume trading next Monday.

Xiao Gang, president of the China Securities Regulatory Commission, said earlier that decisions to punish Everbright and to compensate investors would be announced by the end of next month.

Finance

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Stocks close higher, ending month with 5.25% gain

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