China shares hit successive 7-1/2 month closing high

By REUTERS
January 21, 2013 09:11

 
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HONG KONG - Onshore Chinese shares climbed to a successive 7-1/2 month high on Monday, helped by a maximum-allowed 10 percent surge for property developer Vanke after the company announced plans to re-list its B shares in Hong Kong.

The CSI300 of the top Shanghai and Shenzhen A-share listings closed up 0.6 percent at 2,610.9. The Shanghai Composite Index gained 0.5 percent. They each ended at their highest since June 1, 2012.

China Vanke, the country's largest property developer by sales, will become the second firm to leave the mainland's moribund B-share market for Hong Kong. Its shares were trading for the first time since they were suspended Dec. 26.

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