Transport and energy shares rise on reform hopes
Print Edition
SHANGHAI stocks ended basically flat yesterday although the transport sector and energy firms gained in anticipation that mixed-ownership reforms would boost their profitability.
The Shanghai Composite Index edged up 0.21 percent to end at 3,165.55 points.
Coal producers and transport shares gained as investors hoped that new measures to push forward mixed-ownership reforms would help the firms boost their profits.
China CSSC Holdings Ltd added 1.42 percent to 29.20 yuan, COSCO Shipping Development Co gained 0.24 percent to 4.12 yuan and Ningbo Marine Co Ltd rose 3.04 percent to 5.76 yuan.
Energy firms also gained, with Shanghai Datun Energy Resources Co rising 1.28 percent to 11.12 yuan and Jizhong Energy Resources Co advancing 2.05 percent to 6.97 yuan.
Brokerages, however, fell. Haitong Securities shed 0.82 percent to 15.66 yuan and Guoyuan Securities lost 0.78 percent to close at 20.31 yuan.
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