Midas

Midas / China railway: China’s benchmark stock index rose to a one-month high as railway companies surged on speculation they may help build Thailand’s high-speed train system, offsetting data showing lower exports and faster inflation. CSR Corp. and China CNR Corp., the nation’s biggest train makers, jumped by the 10% daily limit. The two are Midas' largest customers for aluminium train profiles. “It’s an event-driven sentiment on the railway stocks,” said Wu Kan, a Shanghai-based money manager at Dragon Life Insurance Co., which oversees US$3.3b. “The government is now also adopting a ‘going out’ strategy for the railway industry to boost competitiveness.” The Shanghai Composite Index advanced 0.6% to 2,240.41 as of 1:19 p.m., poised for the highest close since 12 Sep.