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Environment shares give index a boost
10.26.2017

    Shanghai stocks edged up yesterday for the fourth day on gains made by shares of home appliance makers and the environmental protection firms.

    The Shanghai Composite Index edged up 0.26 percent to 3,396.90 points.

    Environmental protection companies gained after the Ministry of Industry and Information Technology said yesterday it would promote green manufacturing, improve environmental protection equipment manufacturing, and encourage the sustainable and healthy development of the environmental protection industry.

    The ministry also expects overall output of the environmental protection equipment manufacturing industry to reach 1 trillion yuan by 2020.

    Spic Yuanda Environmental Protection Co rose 3.82 percent to 10.88 yuan and Shanghai Emperor of Cleaning Hi-Tech Co jumped 5.55 percent to 48.86 yuan.

    Home appliance makers also rose as they looked forward to the peak fourth quarter season for sales of big-ticket items.

    Shanghai Flyco Electrical Appliance Co added 0.92 percent to 75.66 yuan and Qingdao Haier Co gained 3.72 percent to 16.99 yuan.

    Other shares which rose included Orient International Enterprise Ltd surging by the daily limit of 10 percent while Shanghai Material Trading Co rose 6.72 percent to 15.57 yuan and Shanghai Shenda Co added 2.24 percent to 9.58 yuan.