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China shares have limp November finish, but shippers spike

Friday, 29 Nov 2013 | 2:05 AM ET

HONG KONG, Nov 29 (Reuters) - China shares ended November with a whimper on Friday, though losses for recent outperforming financial and mining counters were offset by strength in shipping firms, thanks to a reported plan to rejuvenate that sector.

The CSI300 of the leading Shanghai and Shenzhen A-share listings closed flat at 2,438.9 points, while the Shanghai Composite Index inched up 0.1 percent. They climbed 2.7 and 3.7 percent, respectively, in November after losses in October.

For the years, the indexes are down 3.3 and 2.1 percent, respectively.

Shanghai volumes, which have declined since a spike on Nov. 18, neared two-week lows on Friday. The spike came on the first trading day after Beijing unveiled a bold reform agenda.

Chinese shipping shares outperformed the broader market as investors cheered media reports that a plan to rejuvenate the troubled industry has been submitted to the State Council for approval.

(Reporting by Clement Tan; Editing by Richard Borsuk)