Aircraft manufacturers rise in Shanghai stock market

Shanghai stocks edged up 0.26 percent to 2,201.60 points in midday trading, helped by an upward trend in aircraft manufacturers.

China's Academy of Military Science said yesterday reforms will take place in October to redistribute the state-owned funds in the military industry to possibly 16 listed companies in the stock market.

Aviation Industry Corporation of China will be regarded as a key company in the reform. China AVIC Electronics surged 5.92 percent to 23.26 yuan (US$3.69), while AVIC Heavy Machinery gained 1.26 percent to 16.90 yuan.

Apple confirmed today it will hold the new products conference on September 9, which may release the new iPhone and iWatch. Companies featuring the Apple products got a boost in share prices.

China United Network Communications rose 1.18 percent to 3.42 yuan, while Universal Scientific Industrial (Shanghai) gained 5.47 percent to 33.96 yuan.