China shares post best quarterly gains in years China shares inched up on Tuesday, the last day of a quarter in which the main indexes had their biggest gains in four years. Mainland markets brushed off continuing protests in Hong Kong, which hit the citys indexes for a second day. The Shanghai Composite Index climbed 0.3 percent to 2,363.95 points, a 19-month closing high. The CSI300 of the leading Shanghai and Shenzhen A-share listings rose 0.1 percent to finish at its highest since Dec. 10. China markets will be shut Oct. 1-7 for its national holiday. On the quarter, the two indexes were up 15.4 and 13.2 percent, respectively. For the SSEC, this was the best quarter since October-December 2009 and for the CSI300 this was the best since the third quarter of 2010. During the past three months, mainland markets have been buoyed by anticipation of the cross-border trading link with Hong Kong and by bets the government will roll out more stimulus measures to shore up the economy, which slackened after good July data. Chinese coal producers jumped after the State Council said China would impose a new resource tax on coal from Dec. 1 and cancel a series of existing charges. China Shenhua Energy, mainlands biggest coal producer, climbed 0.6 percent and Datong Coal Industry spiked 3.5 percent. Domestic software firms surged on reports saying Chinas own operating system might be launched in October, helping push the CSI technology sub-index up 1.7 percent.
Posted on: Tue, 30 Sep 2014 07:27:11 +0000
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