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China shares hit successive 7-1/2 month closing high

Published on Jan 21, 2013 3:12 PM
 

HONG KONG (REUTERS) - Onshore Chinese shares climbed to a successive 7-1/2 month high on Monday, helped by a maximum-allowed 10 per cent surge for property developer Vanke after the company announced plans to relist its B shares in Hong Kong.

The CSI300 of the top Shanghai and Shenzhen A-share listings closed up 0.6 per cent at 2,610.9. The Shanghai Composite Index gained 0.5 per cent. They each ended at their highest since June 1, 2012.

China Vanke, the country's largest property developer by sales, will become the second firm to leave the mainland's moribund B-share market for Hong Kong. Its shares were trading for the first time since they were suspended Dec 26.