SHANGHAI, Aug 19 (Reuters) - Shanghai’s share market ended at new eight-month highs on Tuesday, underpinned by strength in media companies on plans to modernise the industry.
The Shanghai Composite Index finished up 0.3 percent at 2,245.33 points, while the CSI300 of leading Shanghai and Shenzhen A-share listings was flat at 2,374.77 points.
Media companies were boosted by President Xi Jinping saying that China would build new classes of more credible and competitive media and integrate traditional with new media, the official government newspaper, China Daily reported.
People.cn Co Ltd, the Chinese government’s official newspaper as well as the mouthpiece of the ruling Communist Party of China, was the leading stock in the media sector. It jumped by its 10-percent daily limit, hitting its highest level since the end of June.
Jishi Media, a Jilin provincial-level government media group, was up 3.4 percent.
Reporting by Chen Yixin and China Newroom; Editing by Jacqueline Wong