China shares have 1st gain in four days, autos buoyed by Oct sales Shanghai shares bounced off a key technical support in weak Monday trade, eking out a first gain in four days helped by the auto sector after official data showed vehicle sales in China surged in October. The Shanghai Composite Index closed up 0.2 percent at 2,109.5 after earlier dipping below its 100-day moving average at about 2,103.4 points. The CSI300 of the leading Shanghai and Shenzhen A-share listings rose 0.3 percent. Weakness in the property sector had earlier prodded the Shanghai index below that technical level in anemic volumes as investors awaited the end of a four-day, closed-door policy meeting of the Chinese Communist Party on Tuesday, for details on its economic agenda for the next decade. Vehicle sales in China in October rose 20.3 percent from a year earlier, the China Association of Automobile Manufacturers (CAAM) said on Monday. This compared with the 19.7 percent rise in September.
Posted on: Mon, 11 Nov 2013 07:11:11 +0000
Trending Topics
Recently Viewed Topics
© 2015