China shares end up 0.2 pct

Shanghai: China's main stock index ended up 0.2 per cent on Wednesday at a two-week high, paring the morning's losses, lifted by property issues such as Vanke and aluminium shares.

The benchmark Shanghai Composite Index finished at 2,750.3 points, extending a 0.6 per cent gain on Tuesday, while the sub-index of property shares rallied 1.9 per cent.

But turnover remained thin as investors fretted about tightening liquidity after banks paid for Agricultural Bank of China's subordinated bonds, and on market talk the central bank issued a huge amount of special bills for banks on Tuesday.

Vanke, the country's largest developer by sales, said its May property sales jumped 76.4 per cent from a year earlier to 9 billion yuan ($1.4 billion), rebounding from a slump the previous month.

Aluminium companies also lent support led by Aluminum Corp of China , which jumped its 10 per cent daily limit, boosted by media reports of a new rare earths joint venture.

source : http://www.financialexpress.com/news/china-shares-end-up-0.2-pct/800924/0

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