Xinjiang-Based Stocks Rise Most in Shanghai Composite on Investment Plans
Xinjiang-based companies rallied in Shanghai trading on the prospect increased investment in the province will accelerate economic growth.
Xinhua News Agency reported Xinjiang plans to spend up to 140 billion yuan in the next five years on road construction. Xinhua also reported that Xinjiang has found three iron ore mines with proven deposits totaling 500 million metric tons, citing a local engineer.
Xinjiang Urban Construction Co., Xinjiang Ba Yi Iron & Steel Co, Xianjing Tianfu Thermoelectric Co, Xinjiang Joinworld Co. all gained more than 3 percent at 9:44 a.m. local time while the Shanghai Composite Index was little changed.