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China A-shares close higher led by nonferrous metals.
(From AFX Europe (Focus))
SHANGHAI (XFN-ASIA) - China A-shares closed higher after a late surge in nonferrous metal stocks after Yunnan province announced a plan to buy 1 mln tons of base metals to support smelters in the region.
Property developers also gained favor with China Merchants Property Development (SZA 000024; SZB 200024) rising 5.5 pct on the completion of the issue of 450 mln new shares to both institutional and individual investors. It raised 5.94 bln yuan.
Home appliance makers were in demand. The commerce and finance ministries announced yesterday that a pilot program to subsidize rural appliance purchases will be extended nationwide starting in February.
The benchmark Shanghai Composite Index closed up 23.46 points or 1.25 pct at ...
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