Upbeat mood ends 4-day loss
Print Edition
SHANGHAI stocks ended a four-day loss yesterday, led by gains in high-tech firms as investors turned upbeat on news that China and the US were trying their best to prevent a trade war.
The Shanghai Composite Index gained 1.05 percent to 3,166.65 points, “with investor sentiment being upbeat on the economic outlook after news that the Chinese and US officials were negotiating to prevent an all-out trade war,” analysts said.
Premier Li Keqiang also called for a rational and earnest attitude when addressing the problem of China-US trade imbalance on Monday.
“Fears over tightening trade frictions started to subside,” said Yang Hai, senior strategic analyst at Kaiyuan Securities, adding that this change in sentiment might help the stock market to rally in the following days.
Software developer Hundsun Technologies Inc jumped by the daily limit of 10 percent to 56.53 yuan (US$9.01), while electronic equipment producer Dawning Information Industry Co surged 9.07 percent to 109.29 yuan.
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