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China shares end at two-and-a-half-week high on reform plans

[May 12, 2014]  SHANGHAI/HONG KONG (Reuters) — China's main stock index closed at its best level in two-and-a-half weeks on Monday, underpinned by Beijing's pledge to push ahead with a broad range of capital market reforms and a surging commodities sector.

The Shanghai Composite Index finished up 2.1 percent at 2,052.9 points, its highest close since April 24.

The CSI300 of the leading Shanghai and Shenzhen A-share listings ended at 2,180.1.

China pledged on Friday to push ahead with a broad range of capital market reforms as it seeks to encourage more efficient capital allocation, increase foreign investment and improve transparency of its markets.

Several coal shares jumped by their 10 percent daily limit, including Beijing Haohua Energy Resource Co <601101.SS>, Yang Quan Coal Industry (Group) Co <600348.SS> and Shanxi Coal Industry Company Limited <601225.SS>.

Nickel companies rose sharply after the nickel futures index jumped to its highest since February 2012 on supply concerns. Investors and consumers are buying the metal on prospects of a worsening supply shortfall later in the year.

(Reporting by Chen Yixin and Grace Li; Editing by Jacqueline Wong)

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