Shanghai stocks end week on positive note

Hu Yumo
Investors sentiment was boosted after reports that China is set to unleash trillions of yuan in fiscal stimulus amid the COVID-19 outbreak.
Hu Yumo

Shanghai stocks scored a rally on Friday, led by gains in the consumer sector.

The benchmark Shanghai Composite Index jumped 1.61 percent to 2745.62 points. For the week, however, the gauge was down 4.91 percent. The smaller Shenzhen Component Index rose 1.3 percent to 10,150.13 points.

Shares of building material, tourism and chemical companies were also among the biggest gainers.

Investor sentiment was boosted after  reports that the country is set to unleash trillions of yuan in fiscal stimulus amid the COVID-19 outbreak.

Guotai Junan Securities cautions that investors need to be wary in the short term. The company added that investors should seize opportunities in the A-share market once the overseas outbreak situation improves.

Fujian Anjoy Foods Co Ltd surged 6.82 percent to 76.89 yuan (US$10.89) and Huafang Co Ltd added 1.31 percent to 5.4 yuan.

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