Thursday, November 01 07:33:14
Mainland China shares started November on a strong note today, posting their best performance in more than three weeks, boosted by positive economic data and measures by some city governments to ease restrictions on the property sector.
The state-run China Securities Journal reported that as many as six Chinese cities have sought to spur housing demand by making it easier to obtain funds for buyers that could, in turn, support land sales, a major revenue source for local governments. The CSI300 Index of the top Shanghai and Shenzhen listings closed up 1.9 percent at 2,297.9. The Shanghai Composite Index rose 1.7 percent. For both indices, this was their respective best daily gain since Oct. 9. ( C) Reuters