July 3, 2014 / 7:05 AM / in 4 years

China shares rise after HSBC services June PMI hits 15-month high

HONG KONG, July 3 (Reuters) - China shares lingered at two-week highs on Thursday, as early losses were erased after a private survey reinforced signs that the broader economy is stabilising.

Activity in China’s services sector expanded at its fastest pace in 15 months in June, according to a services purchasing managers’ index (PMI) compiled by HSBC/Markit.

The Shanghai Composite Index, rising for the fourth day in a row, ended up 0.2 percent at 2,063.23 points.

The CSI300 of the leading Shanghai and Shenzhen A-share listings added 0.4 percent, its fifth gain in six sessions.

Anhui Conch Cement, the biggest cement producer, climbed 4.7 percent after saying late on Wednesday it expected H1 net profit up to rise about 90 percent from a year earlier on increased sales and prices.

Non-ferrous metals sector outperformed on rising base metal prices, with Shenzhen Zhongjin Lingnan Nonfemet surging 9.2 percent. (Reporting by Grace Li; Editing by Richard Borsuk)

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