China stocks climb, led by insurers and FTZ shares

lunes 29 de diciembre de 2014 00:33 GYT

* CSI300 +0.8 pct SSEC +0.9 pct

* HSI +1.9 pct, HSCE +4.01 pct

* Rise led by insurers, Shanghai FTZ shares

SHANGHAI, Dec 29 (Reuters) - China stocks rose on Monday led by insurance and property heavyweights, while companies connected with the Shanghai Free Trade Zone also leapt on plans for a major expansion of the zone unveiled last week.

The CSI300 index rose 0.8 percent to 3,474.42 points at the end of the morning session, while the Shanghai Composite Index gained 0.9 percent to 3,185.95 points.

Both indexes backed off from a previous rally that saw them gain more than 2 percent before profit-taking began.

The CSI300 property sub-index jumped 4.2 percent by midday.

All four listed insurance companies rose, with China's biggest insurance firm China Life Insurance Co soaring by its 10 percent daily limit.

Insurance companies, like other financial blue chips, are expected to benefit from the stock market rally, and retail investors have been moving money around different categories of finance shares in recent weeks, causing sharp gains that can wear off quickly, analysts say.   Continuación...