China Trade Information

Shanghai stocks yesterday climbed over 1 percent, led by energy-related companies after crude oil traded at US$119 a barrel, the lowest since early May.

The benchmark Shanghai Composite Index added 28.62 points, or 1.06 percent, to close at 2,719.37. Gainers outnumbered losers 494 to 338 and 75 remained unchanged. Turnover fell to 41.13 billion yuan (US$6 billion) from 42.51 billion yuan on Tuesday.

The continued decrease in crude oil prices boosted Sinopec and PetroChina. Sinopec, the country’s biggest oil refiner, jumped 3.21 percent to 11.58 yuan and PetroChina rose 1.29 percent to end at 14.87 yuan.

Major research institutes predicted China’s consumer price index would fall below 7 percent in July and may reach 6.5 percent, according to a report by China Securities Journal.

Tags: CCB, Energy, Insurance, PetroChina, Shanghai-Composite-Index, Sinopec

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