HONG KONG, Sept 4 China shares rose for a fifth
straight day on Thursday, boosted by strength in real estate
developers after Reuters reported Beijing is relaxing financing
rules for listed property firms.
The Shanghai Composite Index climbed 0.8 percent to
2,306.86 points, its highest close since May 30, 2013.
The CSI300 of the leading Shanghai and Shenzhen
A-share listings ended at 2,426.22 points, 0.7 percent higher
than Wednesday, closing at its highest since Dec. 10.
China Vanke, the country's largest residential
developer, rose 1.8 percent and Poly Real Estate Group
put on 1.0 percent, lending strong support to the
Reuters reported on Wednesday that listed developers would
be allowed to issue medium-term notes to fund residential
housing projects, supplement companies' operating cash flow and
repay bank loans.
Brokerage firms were generally stronger with the trading
link between stock exchanges in Hong Kong and Shanghai drawing
near. CITIC Securities added 2.2 percent and Haitong
Securities gained 1.5 percent.
(Reporting by Grace Li; Editing by Simon Cameron-Moore)