AJOT Digital Edition
Issue #589

Cover of issue-589.png

New York Ports

NVOCC and Freight Forwarder Review

View Issue #589 Now!

2014 Media Kit
  • Share this article:

China shares edge down, port stocks outperform

By: | at 03:05 AM | Ports & Terminals  

China shares edged lower on Thursday as optimism brought by Beijing’s mini-stimulus measures faded, though port shares were strong after Beijing detailed a plan to develop the Yangtze river region.

The Shanghai Composite Index slipped 0.2 percent at 2,051.71 points. The CSI300 of the leading Shanghai and Shenzhen A-share listings lost 0.3 percent.

Chinese Premier Li Keqiang said on Wednesday the government should develop a comprehensive transport network in order to create an “economic belt” along the Yangtze river, according to the government’s official website. (http://link.reuters.com/peq99v)

Shares of port groups climbed. Ningbo Marine surged by the maximum allowed 10 percent to a seven-week high. Ningbo Port gained 2.6 percent and Shanghai International Port Group 1.1 percent.

But gains were outweighed by weakness in financial and property counters ahead of urban investment, industrial output and retail sales data on Friday.