Shanghai shares rise on gains of coal, metal producers

By Ji Xiang | July 23, 2014, Wednesday |

Online Edition

SHANGHAI stocks gained today, helped by coal and nonferrous metal producers. The benchmark Shanghai Composite Index inched up 0.14 percent, or 3.01 points, to 2078.49. Daily turnover was 106.7 billion yuan (US$17.18 billion).

Nonferrous metal producers advanced as a global shortage of nonferrous metals is pushing up prices. Henan Zhongfu Industrial leaped by the daily limit of 10 percent to 4.92 yuan. Jiangxi Copper rose 3.81 percent to 13.35 yuan.

SDIC Xinji Energy led the gains of coal stocks, increasing 0.30 points to 4 yuan. Yanzhou Coal Mining added 0.2 points to 7.02 yuan. But the coal industry is facing dwindling demand in summer.

Shenyin & Wangguo Securities said the listing of new shares affected the board of growth enterprises after the mainboard just showed signs of recovery.

Fujian-based stocks performed well today after the central government recently gave the province incentives to develop its ports. Fujian Expressway Development rose 5.24 percent to 2.41 yuan.

Finance

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Shanghai shares rise on gains of coal, metal producers

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