SHANGHAI, April 4 China shares closed higher on
Friday, buoyed by strong financials and a surge in rare earths,
as investors speculated in growth in the sector, following
surges in the recently opened rare earths exchange.
The Shanghai Composite Index ended up 0.7 percent at
2,058.83 points. The CSI300 of the leading Shanghai
and Shenzhen A-share listings rose 1 percent.
Rare earth stocks posted major gains in the afternoon with
China Minmetals Rare Earth Co Ltd up 10 percent and
Inner Mongolia Baotou Steel Rare-Earth Group Hi-Tech Co Ltd
up 3.8 percent.
Banking shares stabilised, with almost all 16 listed banking
shares gaining ground. Hua Xia Bank Co, Ltd was up
1.7 percent and Industrial Bank Co Ltd gained 2.1
percent on the day.
Property also stabilised after several swings deep into
positive and negative territory over the past week.
The CSI300 property sub-index gained 0.6
percent, with Hua Yuan Property Co jumping 6.4
percent and Yeland Group Co rising 3.7 percent.
(Reporting By Natalie Thomas; Editing by Jacqueline Wong)