Stocks close higher on FTZ news
Print Edition
Shanghai stocks rose yesterday on news that China will suspend laws on foreign investment in the newly approved free trade zone in the city.
The Shanghai Composite Index added 0.34 percent to 2,103.57 points, the highest close since August 13.
Shares of development zone operators, trading and logistics firms have been rising since China last week officially approved the plan to set up a free trade zone in Shanghai on a trial basis.
Shanghai Jinqiao Export Processing Zone Development Co surged by the 10 percent daily limit to 10.64 yuan (US$1.74). Shanghai Zhangjiang Hi-Tech Park Development Co rose 6.6 percent to 6.94 yuan. Shanghai International Port (Group) Co, Shanghai Material Trading Co and Orient International Enterprise all rose by the daily limit of 10 percent to 3.40 yuan, 10.90 yuan and 9.76 yuan respectively.
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