Thai bullet train hopes lift rail firms
Print Edition
Shanghai shares yesterday rose to a one-month high as railway companies surged on reports that China and Thailand will cooperate to build high-speed railways in that country.
The Shanghai Composite Index added 0.43 percent to 2,237.77 points.
Meanwhile China’s inflation picked up in September while exports fell last month, according to the latest data.
Thai Prime Minister Yingluck Shinawatra said China showed interest in developing Thailand’s high-speed train system. Her remark boosted shares of several Chinese railway companies.
China Railway Group and China CNR Corp, one of the nation’s biggest bullet train makers, both jumped by the 10 percent daily limit to 3 yuan (US$0.49) and 4.59 yuan respectively.
China Railway Construction Corp jumped 9.04 percent to 5.43 yuan.
China’s Consumer Price Index, a main gauge of inflation, rose 3.1 percent year on year in September, up from 2.6 percent in August, the National Bureau of Statistics said.
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