China Shares Rise For a 3rd Day


China's main share indexes rose for a third day on Wednesday to approach three-month highs, though gains were capped as speculators sold some recently-listed financial sector stocks.

Continue Reading Below

The blue-chip CSI300 index rose 0.2 percent, to 3,489.76 points. The Shanghai Composite Index also added 0.2 percent, to 3,261.22 points.

Shares in Jiangsu Wujiang Rural Commercial Bank tumbled 9.1 percent, the biggest one-day since it was listed in late November.

Real estate stocks barely moved after data showed home price growth slowed for the fourth straight month as demand cooled further in China's biggest cities.

Most sectors were largely unchanged. Gains were led by material and consumer shares.

An index tracking major liquor makers gained 1.8 percent to the highest since its launch in 2015.

Shares of Kweichow Moutai, the largest liquor maker by market value, hit a record high after it reported a 15.9 percent rise in first quarter profit.

($1 = 6.8811 Chinese yuan)

(Reporting by Luoyan Liu and John Ruwitch; Editing by Richard Borsuk)