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Port stars in share rise

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SCMP Reporter

SHENZHEN B shares rose, after falling for four days, largely due to a strong performance by Shenzhen bulk shipping port Chiwan Wharf.

The company's shares rose 8.2 per cent on trade worth HK$3.31 million.

The CLSA Shenzhen index rose 0.24 per cent to 790.48 points on turnover worth $4.13 million, down from $3.26 million on Friday.

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Shenzhen Textile fell 7.1 per cent to $1.30 on trade worth $180,000. The company has fallen 60.6 per cent as one of its major shareholders is trying to sell its stake, traders said.

Few fund managers are willing to invest in Shenzhen because of its low trade volumes and a poor regulatory record.

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Turnover is so low that sellers often have to lower prices substantially to find buyers for their shares. Bloomberg

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