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Trading On The Shanghai Stock Exchange Ended With The Main Index Rising By More Than 2%

Trading On The Shanghai Stock Exchange Ended With The Main Index Rising By More Than 2%

Trading on the Shanghai stock exchange ended on Wednesday with the growth of the main index, the shares of high-tech and pharmaceutical companies rose the most in the price, according to the data from the official website of the stock exchange.

Reflecting on the situation on the Shanghai stock exchange, the Shanghai composite index rose by 2.06% to 3,294. 55 points. The SSE 50 composite index, which includes shares of the 50 largest and most liquid companies on the stock market ("blue chips"), rose by 1.80%.

Positive dynamics were observed across the entire spectrum of composite indexes, with the largest growth recorded in the information and telecommunications technology sector, as well as pharmaceuticals and trade. Shares of most chip manufacturers showed stable growth of about 3%. Shares of pharmaceutical company Junshi Biosciences rose 20% to 126.6 yuan ($18.3) per unit.

The growth of quotations ended trading on the exchange in Shenzhen, the key indicator of business activity of this trading platform "Shenzhen component" rose by 3.12%, to 13557.44 points. Reflecting on the shares of the largest companies on both exchanges, the csi300 index rose 2.42%.

Investors, experts believe, on Wednesday drew attention to the information that the UK signed an agreement to supply 60 million doses of the coronavirus vaccine, developed jointly by the French pharmaceutical Corporation Sanofi and the British company GSK (GlaxoSmithKline). It is expected that in the summer of 2021, first of all, health workers fighting the coronavirus, as well as social security workers, and Britons with chronic diseases will be vaccinated.

The positive backdrop for growth of quotations on stock exchanges and was published on Tuesday, Fitch, in which the international rating Agency affirmed long-term Issuer default rating in foreign currency of China at the level of "A+," Outlook - stable. Fitch economists also increased China's projected GDP growth in 2020 from 1.2% to 2.7%. They assume that GDP growth in 2021 might be 7.5%, in 2022-5.5%.

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