Shares rise on gains made by coal and real estate companies
Shanghai stocks edged up today after gains by coal and real estate counters.
The Shanghai Composite Index gained 0.52 percent to end at 3,409.48 points.
Investors were drawn to real estate shares in anticipation that regulations of the property markets in Lanzhou in Gansu Province and Hefei in Anhui Province may ease.
This policy easing seeks to proactively maintain the stability of the real estate market, Zhongtai Securities said in a note.
ShangHai ShiMao Co Ltd surged by the daily limit of 10 percent. Greenland Holdings Corp Ltd and China Fortune Land Co Ltd both gained over 8 percent.
Coal shares also gained as investors were cheered by a new plan released by 12 ministries and commissions that aims to promote the merger and reorganization of coal enterprises and the coal and power pool project.
The coal industry may see a trend of merger and reorganization in 2018, Tianfeng Securities said in a note.
Yanzhou Coal Mining Co Ltd surged 9.65 percent to close at 17.39 yuan, Shanxi Coal Internationl Enrgy Gr Co Ltd rose 8.08 percent and Shanxi LuAn Environmental Enrg Dev Co Ld gained 7.55 percent.