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China Daily | Updated: 2014-11-18 07:32
SAIC, Daqin Rail gain as investors pursue dividends
SAIC Motor Corp Ltd and Daqin Railway Co Ltd rose to the highest levels in at least three years in Shanghai on Monday as investors sought mainland shares with high dividend yields on the first day of an exchange link with Hong Kong. SAIC Motor, the nation's biggest automaker, climbed 3.2 percent while Daqin Railway rallied 6.2 percent. SAIC Motor has a dividend yield of 6.2 percent, while Daqin Railway's yield is 4.5 percent. Goldman Sachs Group Inc and Standard Chartered Plc recommended Daqin Railway shares as link plays, while SAIC Motor was preferred by UBS AG and Citigroup Inc.
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