Wednesday, May 21, 2014

China shares rise on coal plans, outlook for local software firms

May 21 (Reuters) - China shares rose on Wednesday, led by coal stocks after a news report said the National Development and Reform Commission plans to establish two or three national markets for coal trading.

The Shanghai Composite Index ended up 0.8 percent at 2,024.95 points. The CSI300 of the leading Shanghai and Shenzhen A-share listings finished up 1.0 percent.

The report on planned coal markets report was in the China Securities Journal. Datong Coal Industry Co climbed 9.9 percent and Houlinghe Opencut Coal Industry Corporation Ltd of Inner Mongolia gained 5.6 percent.

Chinese software firms also surged, due to reduced foreign competition after China banned government use of Windows 8, Microsoft Corp's latest operating system.

Shares of China National Software & Service Company Limited and Shanghai Amarsoft Information & Technology Co gained 10 percent, the daily limit, and were at their highest in six weeks. (Reporting by Donny Kwok; Editing by Richard Borsuk)

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