FX.co ★ Shanghai Stock Market Review

Shanghai Composite ended up +1.78% at 2967.60 due to bargain-hunting in shares of airline and tourism companies. Stocks of equipment companies also looked attractive for buying.
The broad rally in the stock market took place because of airlines shares on strong 1H earnings from Air China and domestic energy information portal C1 Energy’s report, according to which China may raise gasoline, diesel prices by CNY500/ton.
Among gainers are Air China +10% at CNY7.92, after saying 1H earnings more than doubled to CNY2.93 billion on lower fuel costs, fuel-hedging gains, growth in domestic travel demand, while China Southern Airlines +8.22% at CNY5.66, China Eastern Airlines +5.05% at CNY5.62.

Air China

China Sourthern Airlines

China Eastern Airlines

Shanghai Composite Index

Best regards,

Analyst: Vladimir Donin