China Market ends at 20-month highs

The Mainland China equity market closed session at highest level in 20-months on Monday, 28 August 2017, spurred by financial shares after a state-backed fund bought into the sector in the quarter and a spate of forecast-beating earnings reports from state industrial giants. Sentiment was also bolstered by signs that China is stepping up efforts to restructure its lumbering and often inefficient state-owned enterprises (SOEs) by opening the door to more public and private investment in the long-protected sector. The Shanghai Composite advanced 0.9%, or 31.13 points, to 3,362.65, the highest close since December 31, 2015. The CSI 300 Index of big-cap shares added 1.2%, while the ChiNext gauge of start-ups finished 1.7% higher.

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