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Shanghai shares gain on year's last day, but down 6.7 pct in 2013
December 31, 2013 / 7:12 AM / 4 years ago

Shanghai shares gain on year's last day, but down 6.7 pct in 2013

HONG KONG, Dec 31 (Reuters) - China shares rose on the final day of 2013, but the year was third one in the last five in which the main indexes declined.

For the day, the CSI300 of the leading Shanghai and Shenzhen A-share listings ended up 1.3 percent, while the Shanghai Composite Index rose 0.9 percent at 2,115.97 points.

They were down 7.6 percent and 6.7 percent in 2013, respectively.

On Tuesday, strength in brokerages and booze makers overshadowed concerns that the resumption of new share listings will drain liquidity from the market after a more than one year freeze.

China has approved five firms to list on mainland exchanges, ending a suspension on initial public offerings (IPO), as authorities look to reboot a reformed market in 2014.

Mainland markets will close on Wednesday for New Year and resume trading on Thursday.

China is set to release official purchasing managers’ index (PMI) figures for December on Wednesday, while the final HSBC December PMI reading is due after markets reopen on Thursday. (Reporting by Yimou Lee; Editing by Richard Borsuk)

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