Shanghai Composite rises to 10-month high

Mainland China share market advanced highest level in 10 month on Monday, 28 July 2014. Investor appetite for risk assets improved on the back of better than expected China July flash PMI, Chinese industrial companies profit for June and speculation government would roll out more stimulus to bolster economic growth. The benchmark Shanghai Composite advanced 51.33 points, or 2.41%, to 2177.95, the highest closing level since 11 September 2013. Trading turnover increased to 180.41 billion yuan from Friday's 111.41 billion yuan. The National Bureau of Statistics (NBS) said that Chinese industrial companies profit jumped 17.9 percent year earlier to 588 billion yuan in June, the fastest pace since September. The gain outpaced an 8.9% increase in May. For the first half of the year, profit at all Chinese industrial companies with annual sales of more than 20 million yuan ($3.2 million) was up 11.4% to 2.86 trillion yuan.

Powered by Capital Market - Live News