May 26, 2014 / 7:11 AM / 4 years ago

China shares edge up, auto sector strong after Xi comment

HONG KONG, May 26 (Reuters) - China shares rose on Monday, helped by advances for car makers after President Xi Jinping said developing energy-efficient vehicles is the only way to strengthen the country’s auto industry.

The Shanghai Composite Index ended up 0.3 percent at 2,041.48 points. The CSI300 of the leading Shanghai and Shenzhen A-share listings also added 0.4 percent.

BYD Co Ltd, the top CSI300 boost, surged the maximum allowed 10 percent in Shenzhen, while SAIC Motor Corp Ltd gained 0.8 percent in Shanghai.

The aviation sector was another outperformer, with AVIC Aircraft up 3.9 percent in Shenzhen following Xi’s comment that China should make its own large aircraft.

Reporting by Grace Li; Editing by Richard Borsuk

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