China shares end 2012 at six-month high, post first annual gain in three years

HONG KONG Mon Dec 31, 2012 4:33pm IST

A man looks at an electronic board at a brokerage house in Shanghai August 31, 2009. REUTERS/Aly Song/Files

A man looks at an electronic board at a brokerage house in Shanghai August 31, 2009.

Credit: Reuters/Aly Song/Files

Related Topics

HONG KONG (Reuters) - Mainland Chinese shares closed at their highest levels in six months on Monday, as strength in insurers and brokerages helped benchmark indexes post their first annual gain in three years.

China plans to allow eligible securities houses, insurers' asset management units and private equity funds to develop and manage mutual funds in a bid to reinvigorate an industry struggling to produce returns for investors.

The CSI300 of the top Shanghai and Shenzhen listings closed up 1.6 percent on the day at 2,523 points. The Shanghai Composite Index climbed 1.6 percent.

The indexes rose 7.6 percent and 3.2 percent, respectively, in 2012 after diving more than 20 percent in 2011.

Both closed at their highest since June 20, largely on the back of a surge in December. The CSI300 and Shanghai Composite soared 17.9 percent and 14.6 percent this month, their respective best monthly gains since July 2009.

Onshore China markets will be shut January 1 to 3 and will reopen for the new year on Friday, January 4.

(Reporting by Clement Tan; Editing by Kim Coghill)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Shares Hit Record

Sensex, Nifty rise to second consecutive record high

Sensex surges 500 points on BOJ easing, L&T gains

The BSE Sensex and Nifty surged to record highs for a second consecutive session on Friday after Bank of Japan's surprise expansion of its massive stimulus programme raised hopes for additional foreign inflows, boosting blue-chips such as Larsen & Toubro.  Full Article 

REUTERS SHOWCASE

Wilful Negligence?

Wilful Negligence?

SEBI piles pressure on Sahara to sell overseas hotels  Full Article 

Indian Economy

Indian Economy

India's fiscal deficit in H1 almost 83 pct of full-year target.  Full Article 

M&M Earnings

M&M Earnings

M&M Q2 net profit down 4 percent, hit by poor monsoon.  Full Article 

Ban on E-Cigs?

Ban on E-Cigs?

Govt considers ban on e-cigarettes, sale of single smokes.  Full Article 

Commodities

Commodities

Silver futures in India hit four-year low on global cues.  Full Article 

BOJ Policy

BOJ Policy

BOJ shocks markets with surprise easing as inflation slows.  Full Article 

Shadow Banking

Shadow Banking

China's shadow banking sector growing rapidly, third largest in world - FSB.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage