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China shares recoup losses on power producers, carmakers
July 8, 2014 / 7:07 AM / 3 years ago

China shares recoup losses on power producers, carmakers

HONG KONG, July 8 (Reuters) - China shares ended higher on Tuesday, reversing midday losses as power producers and carmakers outperformed.

The Shanghai Composite Index ended a choppy session up 0.2 percent at 2,064.02 points. The CSI300 of the leading Shanghai and Shenzhen A-share listings also gained 0.2 percent.

Datang International Power Generation was a major boost for both indexes, soaring the maximum allowed 10 percent to a 4-month high after it announced a deal to restructure its coal-chemical business.

Its sector rivals also posted solid gains on hopes of stronger electricity demand due to hot weather. Huadian Power jumped 6.7 percent and Huaneng Power 2.4 percent.

In Shenzhen, Chongqing Changan Automobile climbed 4.7 percent to a record high, lifted by impressive car sales in the first six months of 2014. (Reporting by Grace Li; Editing by Kim Coghill)

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