China Shipping Container
China Shipping Container Lines Co. rose the most in six months and Shanghai International Port surged after the central government approved a Shanghai sea-cargo stimulus plan.
China Shipping Container, the nation’s second-biggest cargo-box carrier, jumped 10% in Shanghai, its hometown.
Shanghai Port, operator of the city’s harbor, also climbed by the 10 % daily trading limit.
China’s State Council approved moves designed to boost trade in Shanghai, including tax cuts for exporters, according to a statement on the central government’s Web site. Shanghai, home to the world’s second-busiest container harbor, drew up the plans after 2008 cargo-box traffic grew at the slowest pace in almost 20 years.
A somewhat cynical views was that mainland-listed ‘shares always rise whenever the government announces a new stimulus plan,’ said Jack Xu, a Sinopac Securities Asia Ltd. analyst in Shanghai.