China stocks edge up on coal, bond plans; Hong Kong flat
Published on May 21, 2014 1:23 PM
HONG KONG/SHANGHAI (Reuters) - China shares SPH;newbs-markets:
rose slightly on Wednesday, helped by coal stocks after a news report the National Development and Reform Commission (NDRC) plans to establish two or three national markets for coal trading.
A Reuters report that China is allowing local governments to sell municipal bonds in an experiment to clean up messy state budgets also improved sentiment, brokers said.
The CSI300 of the leading Shanghai and Shenzhen listings was up 0.2 per cent, while the Shanghai Composite Index rose 0.1 per cent to 2,010.96 points. "It's clear that there are some funds to support the index moving above 2,000 points and today's focus is the coal and software industries," said Zheng Weigang, analyst at Shanghai Securities in Shanghai.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!