China stocks up on Shenzhen index expansion, industrial upgrade plan; HK mixed

miércoles 20 de mayo de 2015 00:30 GYT
 

* CSI300 +1.2 pct; SSEC 1.3 pct; HSI -0.2 pct

* Shenzhen-listed stocks jump after benchmark index expansion

* "Made in China 2025" strategy boots tech shares

By Samuel Shen and Pete Sweeney

SHANGHAI, May 20 (Reuters) - China stocks climbed on Wednesday and looked on track to challenge seven-year highs, energised by a surge in tech-heavy, Shenzhen-listed shares after the city's bourse dramaticly expanded the number of firms in a benchmark index.

The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 1.2 percent to 4,789.55 points by the end of the morning session, while the Shanghai Composite Index gained 1.3 percent to 4,476.09 points.

Shenzhen's main board surged 2.7 percent, with jumps of over 3 percent in both the SME board for small- and medium-sized enterprises, and the ChiNext board for start-ups. All three indexes hit record highs.

The Shenzhen Stock Exchange on Wednesday sharply increased the number of stocks included in the Shenzhen SE Component Index to 500 from 40, boosting the weighting of tech companies at the expense of financial and real estate firms.

Tech-related stocks also got a boost from Beijing's ambitious "Made in China 2025" strategy published on Tuesday, which paints China's next stage of economic ascent, from low-value manufacturing to a world of prosperity spanning space, e-commerce, green energy and bioengineering, among others.   Continuación...