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June 14, 2017

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Carmakers, IT firms lift shares

SHANGHAI shares edged up yesterday, led by carmakers and information technology companies which surged after Chinese authorities unveiled policies to bolster the development of intelligent vehicles, analysts said.

The Shanghai Composite Index gained 0.44 percent to 3,154.74 points.

Investors were buoyed yesterday by policies released by the Ministry of Industry and Information Technology to deepen the integration of automobile and information technology.

Dongfeng Automobile Co rose 6.03 percent to 5.98 yuan (88 US cents), and Shanghai Baosight Software Co, Baosteel’s listed IT firm, soared by the daily 10 percent cap to 17.36 yuan.



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