Shanghai shares hit six-week high, support Hong Kong

lunes 10 de febrero de 2014 00:29 GYT
 

* HSI flat, H-shares +0.5 pct, CSI300 +2.2 pct

* BYD leads auto gains after electric car subsidies extended

* Rural-urban pension merger buoys insurers, pharma sectors

* Chow Tai Fook jumps after posting robust CNY sales

By Clement Tan

Feb 10 (Reuters) - Shanghai shares jumped to their highest level in six weeks on Monday, supporting the Hong Kong market, led by the auto sector after the Chinese government extended subsidies for electric vehicles beyond 2015.

Chinese insurers and pharmaceutical counters were buoyed by an official announcement of a merger of rural and urban pension plans. State media also reported the State Council recently ordered an acceleration in the expansion of health insurance covering serious illness for rural residents.

Gains came in robust volumes in the mainland, ahead of a fresh batch of macroeconomic data later in the week. The People's Bank of China's two weekly scheduled open market operations will also come into focus, with maturities due to drain 450 billion yuan this week.

By midday, the Hang Seng Index was flat at 21,632 points, while the China Enterprises Index of the top offshore Chinese listings in Hong Kong rose 0.5 percent.   Continuación...