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Shanghai shares close morning higher.
(From Business Daily Update)
Author:
Headline: Shanghai shares close morning higher
Shanghai A- and B-share prices closed the morning slightly higher on a technical rebound in thin trade on October 22, as some investors were building positions on continued expectations that the government will act to prevent the composite index dropping below 1,500 points, while sentiment remained generally cautious amid a lack of strong leads, dealers said.
The Shanghai composite index closed the morning 11.72 points higher at 1,536.64.
The A-share index closed the session 12.36 points higher at 1,603.95, while the B-share index was up 0.46 points at 138.66.
One analyst at a major domestic securities firm said because the government has taken action on several occasions to drive share prices up from 1,500 points on the composite index, some investors are still building positions amid expectations that the market will again be prevented from dropping below 1,500.
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