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Chinese markets advance on Banks

Wednesday, March 06 07:28:41

Chinese shares advanced for a second day today with a rebound in the property sector while policy announcements from an ongoing meeting of the Chinese parliament helped drive banking and telecom stocks higher.

The CSI300 index of the leading Shanghai and Shenzhen A-share listings closed up 1 percent at 2,650.2 while the Shanghai Composite Index rose 0.9 percent. They had slumped to two-month lows on Monday following fresh curbs to contain home prices. ( C) Reuters

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