China stocks close up, brokerages strong
SHANGHAI Jan 7 (Reuters) - China stocks closed up on Wednesday, hovering around five-year highs, with brokerage shares strengthening after the regulator said it planned to relax rules for securities firms to set up subsidiaries and on background requirements for shareholders.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.1 percent, to 3,643.79, while the Shanghai Composite Index gained 0.7 percent, to 3,373.95 points.
Among the most active stocks in Shanghai were Bank Of China , down 0.4 percent to 4.54 yuan; Agricultural Bank Of China, down 1.5 percent to 3.89 yuan and Zijin Mining, up 6.1 percent to 3.98 yuan.
In Shenzhen, BOE Technology, down 0.3 percent to 3.48 yuan; TCL CORP, up 0.5 percent to 4.17 yuan and China Vanke, down 0.9 percent to 14.23 yuan were among the most actively traded.
Foreign investment flowing into Shanghai from Hong Kong through the mutual market access pilot programme took up 1.75 billion yuan of the 13 billion yuan daily quota.
Total volume of A shares traded in Shanghai was 39.1 billion shares, while Shenzhen volume was 16.8 billion shares.
(Reporting by Chen Yixin and Brenda Goh; Editing by Jacqueline Wong)
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