Business / Markets

Global investors push Shanghai bourse up

By XIE YU in Hong Kong ( Updated: 2014-11-17 15:08

Shanghai Stock Exchange, China's benchmark equity index, grew 0.32 percent by 2:00 pm as the global investors used up the daily quota to buy A shares.

Daqin Railway, a Shanghai listed company, jumped by 7.06 percent after Goldman Sachs Group Inc and Standard Chartered Plc recommended the shares. SAIC Motor surged 4.13 percent and Kweichow Moutai almost 4 percent.

The 13 billion yuan of northbound daily quota were used up before 2:00 pm.

Analysts said these shares formerly not available to offshore investors without Qualified International Institutional Investors (QFII) and Renminbi QFII access may see more growth in the coming days.

On the other hand, the Hang Seng Index has retreated 6 percent in Hong Kong, dragged by lower-than-expected capital from the north. Only 1.5 billion yuan, or 14.3 percent of the quota has been taken in terms of southbound trading by 2:15 pm.

Global investors push Shanghai bourse up Global investors push Shanghai bourse up
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