China market rises on new loan data

Mainland China share market finished higher in volatile trade on Tuesday, 15 July 2014, buoyed by tracking a rise on Wall Street overnight and better than expected new yuan lending data for June. But, move on the upside capped on caution ahead of GDP data for second quarter releasing on Wednesday. The benchmark Shanghai Composite advanced 3.71 points, or 0.18%, to 2070.36. Trading turnover increased to 102.89 billion yuan from yesterday's 96.36 billion yuan. The People's Bank of China said on Tuesday that aggregate financing was 1.97 trillion yuan ($317 billion) in June. New local-currency loans were 1.08 trillion yuan in June compared with the 860.5 billion yuan a year ago. M2, China's broadest measure of money supply, grew 14.7% from a year earlier. China's foreign-exchange reserves, the world's biggest, rose to $3.99 trillion from $3.95 trillion at the end of March.

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