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Shanghai shares up on hopes for stimulus to boost economy
May 8, 2014 / 7:05 AM / in 4 years

Shanghai shares up on hopes for stimulus to boost economy

BEIJING, May 8 (Reuters) - Shanghai shares edged up on Thursday as investors hoped that authorities will unveil stimulus measures to keep the pace of economic growth from slowing.

The Shanghai Composite Index ended up 0.3 percent at 2015.27 points. The CSI300 of the leading Shanghai and Shenzhen A-share listings slipped 0.1 percent.

Speculation that government support for the economy might be on the way helped property and other some stocks. Analysts said that Chinese media reports interpreted comments by the People’s Bank of China on Tuesday as indicating the economy may be at greater risk of slowing, heightening investor hopes of stimulus.

Several companies with exposure to Beijing and the northern province of Hebei, including Hua Yuan Property Co Ltd and Metro Land Corp Ltd, rose by the daily limit of 10 percent on media reports of measures to aid those areas. (Reporting by Natalie Thomas; Editing by Richard Borsuk)

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