Shanghai Port, China Shipping Container rise on exports outlook

Shanghai Port climbed as much as 3.5 percent to 6.29 yuan as of 10:53 a.m. China Shipping Container, the city's biggest cargo-box carrier, jumped as much as 9.3 percent to 6.25 yuan.

China's export orders rose last month, according to the official Purchasing Managers' Index, as U.S. and European retailers stocked up in anticipation of a recovery in demand. A slump in container traffic at Shanghai Port also likely slowed last month, according to Deutsche Bank AG.

“These signs are encouraging as we approach the third quarter,” Karen Tang, an analyst at the bank, said in a note Monday.

Shanghai likely handled 2.14 million containers last month, a decline of 9 percent from a year earlier, Tang said. Traffic dropped 16 percent in the first half, she added. The official figures will be released on Aug. 10, Shanghai Port Board Secretary Jiang Haitao said Monday.

An export-order index rose to 52.1 in July from 51.4 in June, according to the PMI.

China Cosco Holdings Co., Asia's biggest shipping line by market value, jumped as much as 7.5 percent to 19.88 yuan in Shanghai trading.

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