Financial shares pull up market

Source: Xinhua | 2017-08-29

SHANGAHI stocks edged up yesterday, helped by financial shares amid a positive market sentiment as well as strong interim results from state industrial giants.

The Shanghai Composite Index gained 0.93 percent to 3,362.65 points.

Financial shares led gainers, with brokerages outperforming other sectors. Both Galaxy Securities and Orient Securities surged by the daily limit of 10 percent and CITIC Securities jumped 6.18 percent to 18.20 yuan (US$2.75) while Guoyuan Securities advanced 5.41 percent to 14.82 yuan.

Earnings for China’s industrial firms rose 16.5 per cent in July from a year earlier, data showed on Sunday, lifting energy giants such as Shanxi Coking Co by 10 percent and Datong Col Industry Co Ltd by 2.33 percent.