Bloomberg, (14/10) -- China’s benchmark stock index rose to a one-month
high as railway companies surged on speculation they may help build
Thailand’s high-speed train system, offsetting data showing lower
exports and faster inflation. The Shanghai Composite Index
advanced 0.4 percent to 2,237.77 at the close, the highest level since
Sept. 12. Thailand’s prime minister said China showed interest in
developing the Southeast Asian country’s high-speed train system.
China’s consumer prices rose 3.1 percent in September, exceeding the
median estimate in a Bloomberg survey, while exports unexpectedly fell
0.3 percent.“It’s an event-driven sentiment on the railway
stocks,” said Wu Kan, a Shanghai-based money manager at Dragon Life
Insurance Co., which oversees $3.3 billion. “The government is now also
adopting a ‘going out’ strategy for the railway industry to boost
competitiveness.”
