Volleyball-related firms bask in team's golden glory

Share prices of companies related to volleyball spiked on Monday after China's women's volleyball team won gold at the Rio de Janeiro Olympics on Sunday and people across China celebrated the victory online and offline.

Analysts said companies producing volleyball equipment and companies that have advertisements featuring Chinese women's volleyball team members and coach Lang Ping will benefit from the victory.

Yu Jie, an analyst with Sinolink Securities Co, said in his latest research note that the sponsors of China's women volleyball team will benefit from the "volleyball effect" in the short term.