June 30, 2014 / 7:11 AM / 3 years ago

China shares rise, letting indexes show quarterly gains

HONG KONG, June 30 (Reuters) - Gains by aerospace and financial counters helped China shares rise on Monday and during the second quarter, but the main indexes retreated during the first half of 2014.

The Shanghai Composite Index climbed 0.6 percent to 2,048.33 points on Monday. The CSI300 of the leading Shanghai and Shenzhen A-share listings gained 0.7 percent.

Both indexes finished the second quarter marginally higher, with the Shanghai Composite up 0.7 and the CSI300 ahead 0.9 percent. But they were down 3.2 and 7.1 percent respectively during the first half of the year.

In Shanghai, four aerospace firms soared by the daily maximum of 10 percent. Analysts said investors chased defence-related stocks on speculation that tensions with neighbouring countries would spur Beijing to spend more on the sector.

Insurers also outperformed, with China Life Insurance adding 0.9 percent and Ping An Insurance Group Co of China 1.2 percent, among the biggest index boosts.

Beijing is set to release the official Purchasing Managers’ Index for June on Tuesday. It is likely to show China’s vast factory sector registered its best performance this year as growth quickened to a six-month high, further signaling the economy is regaining strength after an unsteady start to 2014. (Reporting by Grace Li; Editing by Richard Borsuk)

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