China shares end up on policy support, led by railways

30 Oct, 2014

SHANGHAI: China shares rose on Thursday, with the key index touching a 20-month high after the government said it would promote consumption in six sectors of the economy, including housing.

The Shanghai Composite Index ended up 0.8 percent at 2,391.1 points, after at one point touching its highest level since February 2013 in the afternoon session.

The CSI300 of the leading Shanghai and Shenzhen A-share listings climbed 0.7 percent.

The State Council, China's cabinet, said on Wednesday it would promote consumption in sectors including e-commerce, new energy, housing, tourism, education and sport.

Railway-related shares were the biggest gainers after national operator China Railway Corporation said all 64 railway projects planned for this year had been approved and would start by the end of the year.

Copyright Reuters, 2014

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