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China shares close up for first time in 3 days

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(Globalpost/GlobalPost)

SHANGHAI, Feb 20 (Reuters) - China shares broke a two-day slide to close up on Wednesday, supported by interest in small-cap shares and in environmental stocks expected to benefit from government support.

Local media reported that the Ministry of Environmental Protection said China will invest 350 billion yuan ($56.05 billion) to control air pollution during the current 12th five-year plan period.

Sentiment was also buoyed by wider optimism in Asia. Asian shares scaled their highest levels since August 2011 on Wednesday after an improving global economic outlook whetted investor appetite for risk, while the yen firmed amid doubts over Japan's commitment to drastic reflation.

The CSI300 of the top Shanghai and Shenzhen A-share listings ended up 0.6 percent at 2,702.6 points.

The Shanghai Composite Index also rose 0.6 percent to close at 2,397.2 points after slumping 1.6 percent on Tuesday.

($1 = 6.2443 Chinese yuan) (Reporting by Chen Yixin and Pete Sweeney; Editing by Jacqueline Wong)

http://www.globalpost.com/dispatch/news/thomson-reuters/130220/china-shares-close-first-time-3-days