China stocks rise, shedding early losses as brokerages, banks revive
SHANGHAI Nov 12 (Reuters) - China stocks closed higher on Wednesday, reversing a slide in the morning as investors continue to position for the launch of the Shanghai-Hong Kong stock exchange link, analysts said.
Analysts said brokerage shares, which led the recovery, received additional support after regulators said they are preparing to allow same-day "T+0" trading on mainland stock exchanges, bringing them in line with the Hong Kong exchange and averting a potential operational headache for traders.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 34.93 points, or 1.37 percent, to 2,593.54, while the Shanghai Composite Index gained 24.60 points, or 1 percent, to 2,494.28.
Among the most actively traded stocks in Shanghai were Bank of China, down 2.22 percent to 3.08 yuan; Citic Securities Co, up 7.64 percent to 15.35 yuan and China State Construction Engineering Corp Ltd, down 0.25 percent to 4.02 yuan.
In Shenzhen, Changjiang Securities, up 3.8 percent to 8.27 yuan; BOE Technology, up 0.8 percent to 2.62 yuan and Northeast Securities, up the daily maximum 10 percent to 12.54 yuan were among the most active stocks.
Total volume of A shares traded in Shanghai was 25.23 billion shares, while Shenzhen volume was 12.69 billion shares. (Reporting by the Shanghai Newsroom; Editing by Richard Borsuk)
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