May 8, 2013 / 7:06 AM / in 5 years

China shares buoyed by trade data, SAIC Motor jumps

HONG KONG, May 8 (Reuters) - China shares extended their winning streak on Wednesday after robust April trade data, but finished off the day’s highs, with SAIC Motor leading index gains after positive April sales.

The CSI300 of the leading Shanghai and Shenzhen A-shares listings closed up 0.5 percent for its fifth-straight daily gain. The Shanghai Composite Index rose 0.5 percent to 2,246.3 points in its fourth-straight gain.

China’s exports and imports grew more than expected in April, offering the possibility of a better outlook for the world’s second-largest economy, but the figures failed to put an end to scepticism that financial manoeuvring by exporters and speculative capital inflows are masking weakness in real demand.

SAIC Motor rose 5.5 percent. (Reporting by Clement Tan; Editing by Kim Coghill)

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