China stocks extend rally to 2-1/2 mth high, led by financials

jueves 5 de noviembre de 2015 00:03 GYT

* The HK-Shenzhen stock market connect keeps cheering market

* Shares of securities firms lead the gain, banks up

* Telecommunication sector soars over 5 pct on merger expectation

SHANGHAI, Nov 5 (Reuters) - China's stocks rallied to two-and-a-half-month highs on Thursday, led by securities brokerages and banks after benchmark indexes posted their best day in seven weeks in the previous session.

The CSI300 index rose 3.2 percent to 3,744.61 points at the end of the morning session, while the Shanghai Composite Index gained 2.7 percent, to 3,552.76 points.

The optimism over a connect scheme between the Hong Kong and Shenzhen stock markets continued, driving shares of securities firms and other related financial sectors.

"The surging brokerage shares yesterday attracted a lot of money into the market, supporting the further rise today. Banking shares are pushed by the brokerages," said Liu Jingde, an analyst at Cinda Securities in Beijing.

Liu expected the main indexes to scale 4,000 points in the near future.

Among the securities brokerages to hit a daily upward limit of 10 percent were Industrial Securities, SW Securities, Everbright, Huatai Security and Soochow Securities.   Continuación...