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China B-shares end morning higher; home appliance makers advance - UPDATE.
(From AFX Europe (Focus))
SHANGHAI (XFN-ASIA) - China B-shares finished the morning session higher with home appliance makers snapped up as the government expanded its program to subsidize appliance sales, dealers said.
Property developers also rebounded on bargain-hunting, they added.
The Shanghai B-share Index was up 2.37 point or 2.23 pct at 108.50, while the Shenzhen B-share Index rose 5.76 point or 2.30 pct to 256.54.
"Investors accumulated shares of washing machine and television manufacturers," said a Shanghai-based analyst who asked not be identified. "However, gains in these stocks are expected to be short-lived as immediate benefits to companies' earnings are unlikely."
In Shanghai, home appliance maker Shanghai Highly (Group) (SHB 900910; SHA 600619) rose 0.017 usd or 5.69 pct to 0.316.
Huaxin Cement (SHB 900933; SHA 600801) added 0.045 usd or 4.04 pct to 1.160.
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