Shanghai Shares Hit 11-Week Closing High, Shippers Soar

HONG KONG, Sept 6 (Reuters) – Shanghai shares climbed to an 11-week closing high on Friday, helped by counters linked to sea transport after local media reported that Shanghai’s free-trade zone has proposed easier rules for shipping firms.

The Shanghai Composite Index finished up 0.8 percent at 2,140 points, its highest closing since June 19. The CSI300 of the leading Shanghai and Shenzhen A-share listings rose 0.7 percent.

On the week, they gained 2 and 1.9 percent, respectively. This is their second straight weekly gain.

Beijing is due to release August trade data on Sunday, inflation on Monday, then industrial output, retail sales and urban investment on Tuesday. Money supply and loan growth data is expected from Sunday. (Reporting by Clement Tan; Editing by Richard Borsuk)

(c) 2013 Thomson Reuters

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