Stocks buoyed by environmental shares

Shanghai stocks ended higher today buoyed by the environmental shares.

Shanghai stocks ended higher today buoyed by the environmental shares.

The benchmark Shanghai Composite Index rose by 0.13 percent to close at 3,390.52 points, while the turnover shrank 10.17 percent to 181.12 billion yuan (US$ 27.52).

Environmental shares are among the biggest gainers, as Anhui Zhonghuan Environmntl Protctn Tec, Guangxi Bossco Environ Prtn Techn Co Ltd, Poten Environment Group Co Ltd and Safbon Water Service Holdng Inc Shanghai all surged by the daily limit of 10 percent.

Tianfeng Securities wrote in a note that the development in ecological civilization is expected to gain support from the newly implemented policies in the 4th quarter of 2017 and the first half of next year.

Coal shares rebounded today, with Baotailong New Materials Co Ltd gaining 4.02 percent to 11.12 yuan and Shaanxi Heimao Coking Co Ltd up by 3.18 percent to 11.03 yuan.

Household appliances companies maintained the momentum. Tecnon Fujian Commercial Lighting Co Ltd advanced 9.99 percent to 40.52 yuan, and Cnlight Co Ltd and Zhejiang Goldensea Environmnt Tech CoLtd both posted a gain of over 5 percent. Besides, Hangzhou Robam Appliances Co Ltd and Qingdao Haier Co Ltd closed at their new record highs.

Shanghai shares presented a weekly gain of 1.24 percent, ending the drop for the previous four weeks.

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