Shanghai shares end at 3-month high on reform optimism

HONG KONG Wed Dec 4, 2013 2:04am EST

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HONG KONG Dec 4 (Reuters) - Shanghai shares closed at their highest in nearly three months on Wednesday, led by gains in agricultural technology and construction-related companies after the country's decision-making Politburo pledged to push forward with land reforms.

The announcement is part of its "new urbanisation" initiative and one of several this week on reforms first unveiled more than two weeks ago, suggesting Beijing may be proceeding at a faster than expected pace.

The Shanghai Composite Index ended up 1.3 percent at 2,251.8 points, its highest closing level since Sept. 12. The CSI300 of the leading Shanghai and Shenzhen A-share listings also climbed 1.3 percent.

Shanghai volumes jumped nearly 40 percent from Tuesday, but were just shy of a two-month high recorded on Monday. (Reporting by Clement Tan; Editing by Jacqueline Wong)

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