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Media counters help lift Shanghai stock barometer
SHANGHAI stocks edged up in morning trade, with the benchmark Shanghai Composite Index increasing 0.58 percent to 2,279.29 points in midday trading, lifted by the media sector.
The central government released on August 18 plans to reform the traditional media industry, aiming to form new mainstream media groups.
Investors were optimistic about policies that would possibly encourage mergers and expansions among key media groups.
Northern United Publishing & Media skyrocketed the daily maximum 10 percent to 10.77 yuan(US$1.76). ZheJiang Daily Media Group jumped 8.13 percent to 19.69 yuan, while China Television Media surged 5.98 percent to 20.92 yuan.
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