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China CSI index posts best week in 10 months, helped by cross-border trading link
July 25, 2014 / 7:11 AM / 3 years ago

China CSI index posts best week in 10 months, helped by cross-border trading link

HONG KONG, July 25 (Reuters) - China’ index of leading Shanghai and Shenzhen shares posted its biggest weekly gain in over 10 months on Friday, powered by continued strength in blue chips which are seen benefiting from a coming stock exchange connection between Shanghai and Hong Kong.

The CSI300 of the leading Shanghai and Shenzhen A-share listings climbed 1.1 percent, taking its gains on the week to 4.5 percent, its best week since September 2013.

The Shanghai Composite Index rose 1 percent to 2,126.61 points, up 3.3 percent for the week, the best since the week ended April 11.

Both indexes closed at their highest since April 14.

Big state banks were top index boosts in Shanghai, with Agricultural Bank of China gained 2.1 percent and Industrial and Commercial Bank of China 1.2 percent.

Huadian Energy surged 9.7 percent.

Its parent company - State-owned China Huadian Corp - has drawn up a restructuring blueprint as part of efforts to move all its qualifying assets into its six listed subsidiaries, the official China Securities Journal reported on Friday. (Reporting by Grace Li; Editing by Kim Coghill)

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