Shanghai shares gain for 8th straight trading day
Shanghai stocks edged up today for an eighth straight trading day, with investors pursuing shares of liquor firms and pharmaceutical companies.
The Shanghai Composite Index rose slightly by 0.13 percent to end at 3,413.90 points.
Food and beverage shares were the biggest gainers, with Xiangpiaopiao Food Co Ltd hitting the maximum daily limit of 10 percent. Anhui Kouzi Distillery Co Ltd rose 5.17 percent to 47.80 yuan (US$7.33) and Chongqing Brewery Co Ltd added 4.86 percent.
Kweichow Moutai Co Ltd gained 4.04 percent to hit a record high at 782.52 yuan, giving the firm a total market value of 983 billion yuan, only a step away from a trillion yuan.
Pharmaceutical shares also gained, with Shanghai Jiaoda Onlly Co Ltd surging by the daily limit of 10 percent, and Zhejiang Medicine Co Ltd advancing 7.66 percent.