China shares at 6-week high, Wangfujing jumps on Tencent partnership

HONG KONG Wed Feb 12, 2014 2:11am EST

HONG KONG Feb 12 (Reuters) - China shares hovered at their highest in nearly six weeks on Wednesday, helped by strong gains for Beijing Wangfujing Department Store as investors cheered its plan to develop e-commerce capabilities with Tencent Holdings.

Both onshore indexes underperformed Asian markets, shrugging off robust China trade data as investors took stock of recent robust gains for the financial sector. Wangfujing jumped 10 percent in Shanghai.

The Shanghai Composite Index ended up 0.3 percent at 2,110.2 points, its highest since Dec. 31. The CSI300 of the biggest Shanghai and Shenzhen A-share listings, also rising 0.3 percent, reached its highest close since Jan. 2.

The Nasdaq-style ChiNext Composite Index of mostly hi-tech startups listed in Shenzhen outperformed, rising 1.3 percent to a record closing high. (Reporting by Clement Tan; Editing by Richard Borsuk)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.