HONG KONG Feb 17 Shanghai shares closed at
their highest in two months on Monday, led by strong gains for
premium liquor producers that helped push the benchmark index
into positive territory for the first time in 2014.
The Shanghai Composite Index finished up 0.9 percent
at 2,135.4 points, its highest closing level since Dec. 18 and
it is now up 0.9 percent for the year. The CSI300 of
the largest Shanghai and Shenzhen A-share listings rose 0.7
percent, but is still down 0.8 percent in 2014.
The Nasdaq-style ChiNext Composite Index of
mostly high tech startups listed in Shenzhen outperformed,
jumping 3 percent to a record closing high.
Kweichow Moutai stretched a post-Lunar New Year
rally on signs of better-than-expected sales during the
week-long holiday. Its Shanghai shares jumped 5 percent on
Monday and have surged 13.5 percent in the seven sessions since
trading resumed Feb. 7.
The banking sector was a key drag, unmoved by Saturday's
official data saying that despite the central bank's clampdown
on credit, China's banks in January disbursed the most loans for
any month in four years.
(Reporting by Clement Tan; Editing by Richard Borsuk)