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Stocks’ early advance pushes index to monthly gain
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CHINA’S key stock index advanced slightly after rising to a one-month high in the morning session of the last trading day this month, which pushed the index to a climb of 3.5 percent this month.
The Shanghai Composite Index rose 0.03 percent to 2,225.28 points by the noon break. The trading volume was 54 billion yuan (US$8.78 billion).
Shipbuilding and military-related shares surged in the morning. China’s aircraft carrier was reported to have passed the Taiwan Strait, heading toward the South China Sea, which increased expectations of more investment in military upgrades.
Internet, new media and semiconductor shares grew while coal, steel and insurance firms dropped.
Guangzhou Shipyard International Co surged by the 10 percent daily cap to 16.82 yuan. Guizhou Guihang Automotive Components Co increased 5.86 percent to 14.64 yuan.
China’s stocks headed for monthly gains after the government announced the biggest package of policy changes since the 1990s, such as easing restrictions on private investment and modifying the one-child policy.
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