Shanghai shares continue rising momentum

Food and beverage counters give key stock index a boost as they posted the biggest gains

Shanghai stocks again ended higher today, boosted by gains made by food and beverage counters.

The Shanghai Composite Index added 0.16 percent to close at 3,388.28 points.

Food and beverage shares were the biggest gainers today. Jiangxi Huangshanghuang Group Food Co rose 9.99 percent to 22.47 yuan while liquor producers such as Jinhui Liquor Co Ltd advanced 6.96 percent to 22.89 yuan and Anhui Golden Seed Winery Co Ltd added 6.38 percent to end at 9.67 yuan.

Kweichow Moutai Co Ltd, China’s largest liquor maker by market value, climbed 1.06 percent to a new high today. The liquor maker's expected earnings per share may be raised to 17.93 yuan this year and 23.65 yuan next year, China Merchant Securities said, adding that target price can rise to 640 yuan.

Logistics firms also advanced, with GuangDong GenSho Logistics Co Ltd, Guanghui Logistics Co Ltd and Nanjing Inform Storage Eqpmnt Grp Co Ltd all surging by the daily limit of 10 percent. Yunda Holding Co Ltd rose 5 percent to 50.62 yuan, as Yunda Express, one of the leading logistics companies in China, announced a price adjustment today.

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