HONG KONG Aug 4 China shares closed at their
highest in 7-1/2 months on Monday, boosted by positive comments
about the market from the country's top securities regulator,
with financial and coal firms leading gains.
A China Securities Regulatory Commission (CSRC) spokesman on
Friday described the recent rally in China's stock market as a
"rebound" due to improving performance in the economy, more
liquidity, and market reforms, including the planned
Shanghai-Hong Kong stock market connector pilot programme.
The Shanghai Composite Index ended up 1.7 percent at
2,223.33 points, the highest close since Dec. 10. The CSI300
of the leading Shanghai and Shenzhen A-share listings
climbed 2.0 percent to finish at its highest since Dec. 13.
CITIC Securities jumped 6.1 percent and Haitong
Securities 4.3 percent, encouraged by comments from
the CSRC spokesman who said the regulator would continue to
support the innovative business development of brokerages.
China Shenhua Energy rose 2.6 percent to the
year's highest level. The mainland's biggest coal producer
raised prices of steam coal on Friday after cutting prices seven
times within less than two months, according to a report from
China Business News.
Some smaller coal firms surged over 5 percent, with others
even hitting the maximum allowed 10 percent daily limit.
(Reporting by Grace Li; Editing by Jacqueline Wong)