Shanghai Composite rises to 8-month high

Mainland China market advanced for sixth day in row, sending the benchmark Shanghai Composite 0.24% higher to 2183.19 on Tuesday, 29 July 2014, the highest closing level since 13 December 2013, when it finished at 2196.07. Turnover declined to 159.28 billion yuan from yesterday's 180.41 billion yuan. Better-than-expected China July HSBC flash manufacturing index, lower financing costs, loosening curbs on property policies, 18% surge in industrial profits in June and the coming investment connection between the Shanghai and Hong Kong stock markets were cited as factors behind the rally.

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