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Technical rally helps shares gain
04.20.2018

    Shanghai shares rebounded yesterday on a technical rally after giving up gains since last week.

    The Shanghai Composite Index rose 0.84 percent to close at 3,117.38 yesterday, led by consumer stocks and cyclical sectors like nonferrous metals.

    Shares of Jiangsu Lidao New Material Manufacture Co, a Changzhou-based aluminum coil maker, surge by the 10 percent daily limit to close at 23.65 yuan (US$ 3.77).

    Since the latter part of last week, China’s A-share market has continued to decline amid increased uncertainty as a result of trade friction between China and the United States, the emergence of geopolitical risks around the world as well as volatility in overseas stock markets.