China shares rise for a 6th straight day, helped by port shares

HONG KONG, Sept 5 Fri Sep 5, 2014 3:11am EDT

Related Topics

HONG KONG, Sept 5 (Reuters) - China shares rose for a sixth straight day, with port stocks leading Friday's gains thanks to Chinese government's plans to support the shipping industry.

The Shanghai Composite Index climbed 0.9 percent to 2,326.43 points, the highest close since May 2013. It gained 4.9 percent on the week, making this the best one since February 2013.

The CSI300 of the leading Shanghai and Shenzhen A-share listings closed up 0.95 percent, taking gains for the week to 4.7 percent, the best week in almost a year.

Ningbo Port surged the maximum allowed 10 percent and Tianjin Port Holdings rose 2.8 percent after China published a set of guidelines to support and develop its shipping industry.

Train-makers China CNR and CSR Corporation both advanced more than 2.0 percent on Friday after a newspaper reported the government was looking to merge the two state-owned firms to prevent them for competing as they chase overseas orders.

China markets will be shut on Monday for the Mid-Autumn Festival. (Reporting by Donny Kwok; Editing by Richard Borsuk)

FILED UNDER: