Likely fiscal measures lift shares
Print Edition
SHANGHAI shares rose yesterday as investor sentiment was buoyed by a possible fiscal stimulus ahead of the release of China’s gross domestic product data for the second quarter tomorrow.
The Shanghai Composite Index added 0.37 percent to close at 3,060.69 points, with financial and mining shares boosting the gauge to a three-month high.
The Shanghai gauge has risen 7.7 percent since its rebound starting from the end of June, helped by a good performance of state-owned companies.
Blue-chip shares such as brokerages and miners led gains in Shanghai, with Industrial Securities Co adding 4 percent to 8.05 yuan (US$1.20) and Zhongjin Gold Corp, the country’s biggest gold producer, rising 2.52 percent to 15.84 yuan.
The China Business News Research Institute wrote in a report yesterday that if the country’s second-quarter GDP was below market hopes, “it’s highly possible for the central bank to further cut reserve requirement ratio to reboot a cooling economy.”
But it warned: “We have to be aware that the marginal effect from such fiscal stimulus is shrinking, as big companies are unwilling to invest in the current business environment.”
- 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.
