2015-05-04

Shipping Stocks Pop; Baofeng Limit Up Again

Channeling the theme of Bizarro Market or Not? Baosteel Is World's Largest Steel Company By Market Cap, here's more evidence of investors turning bullish on the Chinese economy: shipping stocks enjoyed a broad rally on Monday, with some shares limit up 10%.

Similar to steel, the depressed shipping industry is seen as ripe for consolidation. Additionally, defense orders will help some companies. CSIC (601989), GSI (600685) and CSCC (600150) were among the stocks rallying on Monday.

To promote the implementation of "all the way along the" major initiative, recently Chinese government formulated and issued "to promote and build 21st century Silk Road economic belt and the Maritime Silk Road vision and action"; Central News Network from April 13 to launch series Report "along the way to build prosperity", a comprehensive picture of China and along the countries to achieve interoperability made ​​unremitting efforts, last week aired four episodes "along the way to draw a blueprint for the development of new", "funds interoperability, open up financial aorta "" Fujian to build interoperability hub "and" Xinjiang accelerate the construction of transportation hub and business logistics. " April 20 to 21, Chinese President will pay a state visit to Pakistan, Pakistan is expected to be signed during the total amount involved in the field of energy and infrastructure, 46 billion US dollars big one, which is likely to include eight yuan class conventional submarine orders from China Shipbuilding Industry Heavy's military construction.

Baofeng was limit up again on Monday. The streak continues.

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