HONG KONG, June 26 China shares finished higher
on Thursday, helped by the central bank's move to allow more
funds in the market and the debut of the first three listings in
more than four months.
The People's Bank of China abstained from open market
operations on Thursday, traders said, meaning it will inject a
net 12 billion yuan ($1.93 billion) into the market this week,
easing some jitters about a possible cash crunch.
The Shanghai Composite Index gained 0.7 percent at
2,038.68 points. The CSI300 of the leading Shanghai
and Shenzhen A-share listings was also up 0.7 percent.
In Shenzhen, all three new listings - Feitian Technologies
, Wuxi Xuelang Environmental Technology,
and Shandong Longda Meat Foodstuff - surged the
maximum allowed 44 percent in their trading debuts, showing
pent-up demand that bodes well for a raft of coming initial
Brokerages were stronger, lifted by the IPOs. CITIC
Securities climbed 1.2 percent and Haitong
Securities 0.8 percent, among the biggest CSI300
($1 = 6.2090 Chinese Yuan Renminbi)
(Reporting by Grace Li; Editing by Richard Borsuk)