Connect to share and comment

China shares post first gain in three days, buoyed by brokerages

PlacardEnlarge
(Globalpost/GlobalPost)

HONG KONG, Feb 25 (Reuters) - China shares rose for the first time in three sessions on Monday, helped by strength in the brokerage sector after the official China Securities Journal reported an expansion of a short selling pilot scheme from Feb. 28.

Xinhua news agency also reported over the weekend that Renminbi Qualified Foreign Institutional Investors (RQFII) funds will no longer be required to invest 80 percent of their funds into the domestic fixed income market.

The CSI300 of the top Shanghai and Shenzhen A-share listings closed up 0.3 percent at 2,605 points. The Shanghai Composite Index gained 0.5 percent. Their respective first rise in three days lifted the indexes off multi-week lows. (Reporting by Clement Tan; Editing by Jacqueline Wong)

http://www.globalpost.com/dispatch/news/thomson-reuters/130225/china-shares-post-first-gain-three-days-buoyed-brokerages