Investor sentiment lifts share index

Updated 2017-10-27 10:04:03 Shanghai Daily

Shares rose for a fifth day yesterday, pushing the benchmark index to the highest level since December 2015, as investors were buoyed by consumer firms and steel makers.

The Shanghai Composite Index added 0.31 percent to 3,407.57 points.

Kweichow Moutai rose 6.97 percent to 605.09 yuan after reporting 138 percent growth in its third quarter profit. Wuliangye Yibin Co also added 3.24 percent to 65.06 yuan and Shanxi Xinghuacun Fen Wine Factory added 2.04 percent after posting a 79 percent surge in profit in the first three quarters.

Investors were upbeat after a number of major listed companies reported bullish quarterly earnings report. China Vanke Co edged up 0.36 percent while Shanghai Jahwa United Co rose 0.52 percent and Luzhou Laojiao Co gained 1.85 percent.

Steel makers also outperformed the market amid expectations that environmental protection measures would cut overall capacity. Anyang Iron & Steel added 1.75 percent to 4.66 yuan and SGIS Songshan Co jumped 3.51 percent to 7.96 yuan.

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