Shanghai Composite rises to 19-months high

Mainland China market extended its recent advance on Monday, 29 September 2014, sending the benchmark index to a highest level in almost 19 months, after central bank promises for more financial reforms. The benchmark Shanghai Composite index advanced 10 points, or 0.43%, to finish at 2357.71, the highest close since 1 March 2013, when it finished at 2359.51. The index has rallied 15% this quarter, amid speculation the government's reform measures will stem an economic slowdown and an exchange link with Hong Kong will fuel fund inflows.

China central government said in statement on Monday ahead of the zone's first anniversary that the State Council had approved the temporary removal of restrictions affecting 27 industries. The statement said that some of the limits on industry investment by foreign companies in joint ventures with Chinese firms will go from 49% to 51% or greater.

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