Stocks extend gains for 6th straight day
Print Edition
SHANGHAI stocks rose for the sixth day in a row yesterday, as sentiment remained positive on the back of an economic upturn and increased liquidity.
The Shanghai Composite Index gained 0.24 percent to 2,183.19 points.
“Economic recovery and the improving liquidity conditions are the keys to the rebound in the A-share market,” CITIC Securities said in a note.
“Enthusiasm for the Shanghai-Hong Kong Stock Connect is also directing funds to blue chips,” it said.
But the brokerage questioned the sustainability of the rebound as the government is seeking to restructure the economy and might not extend its stimulus measures.
Electric vehicle makers and battery producers made significant gains yesterday after media reported that Beijing is planning to buy 1,300 electric taxis this year.
Anhui Jianghuai Automobile jumped 7 percent to 13.03 yuan (US$2.11) on the news, while Ningbo Joyson Electronic rose 2.6 percent to 27.34 yuan.
Stocks associated with Shanghai’s pilot free trade zone also advanced ahead of a new regulation on its management, which will come into effect on Friday.
Shanghai Waigaoqiao Free Trade Zone Development gained 4 percent to 27.92 yuan, while Shanghai Jinqiao Export Processing Zone Development rose 8.7 percent to 11.77 yuan and Shanghai Lujiazui Finance & Trade Zone Development added 5.8 percent to 17.49 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
