China: Yanjing Beer’s shares rose 6.95 percent

Chinese share prices ended the first week of 2008 slightly higher, with the Shanghai Composite Index gaining 100 points, or 1.9 percent, from the end of 2007 to close at 5,361.57 points on Friday.

Olympics-related stocks remained strong. Yanjing Beer, a beer company based in Beijing, rose 6.95 percent to 25.22 yuan per share.

On Wednesday Beijing Yanjing Brewery rose by the maximum daily limit of 10 percent. Bright Dairy & Food gained 4.1 percent.

``Investors are no longer enamored with banks and property developers, as both sectors have the cloud of 'macroeconomic tightening' hanging over them,'' said Zhang Yang, an analyst with Orient Securities.

``They're buying food and drink makers, because the consumer goods sector is one the government won't interfere with, and food prices are rising,'' Zhang said.

04 January, 2008