Shares in Chinese rail and building material companies bounced higher on Tuesday morning fuelled by optimism that plans to boost railway expansion would ease a glut in sectors such as steel and cement.
The Chinese government planned to use investments in high-speed railways to help reduce overcapacity in those and other construction material sectors, the official Shanghai Securities News reported on Tuesday.
By 0220 GMT, shares of China Railway Construction jumped 5 per cent in Hong Kong and 6.1 per cent in Shanghai.
via Business feed http://www.scmp.com/business/money/markets-investing/article/1289012/china-rail-material-stocks-soar-investment-optimism
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