Shanghai shares get shot in the arm from progress of China's health care reform
Shanghai stocks closed higher yesterday as market sentiment was boosted by medical shares amid progress made in the government's health care reform.
The Shanghai Composite Index edged up by 0.26 percent to 3,382.99 points.
The medical companies got a shot in the arm by progress the government made in reforming health care. Nearly 20 medical stocks such as Zhejiang DiAn Diagnostics Co Ltd, Shandong Intco Medical Products Co Ltd and Shenzhen Kangtai Biological Prods Co Ltd all surged by the daily limit of 10 percent.
Information technology companies also gained, with Inspur Software Co Ltd, Silkroad Visual Technology Co Ltd and Beijing Certificate Authority Co Ltd hitting the maximum daily 10 percent cap.
Banks also gained, with the Industrial Bank Co Ltd advancing 1.95 percent to 17.80 yuan and Ping An Bank Co Ltd gaining 1.5 percent to end at 11.47 yuan.