China shares rise on economic data

China shares gained on Thursday after recovering from early morning falls despite weaker markets overseas, with analysts citing better-than-expected money supply and lending data, as well as expectations of more support policies to come. The Shanghai Composite Index rose 0.6 per cent to 2,387.02 points by midday. The CSI300 of the leading Shanghai and Shenzhen A-share listings also gained 0.6 per cent. Chinese banks made 857.2 billion yuan ($140 billion) worth of new loans in September, higher than the forecast of 730 to 735 billion yuan, while the broad M2 money supply rose 12.9 per cent from a year earliear in line with expectations, data showed on Thursday. Railway companies CSR Corporation Limited and China CNR Corporation Limited jumped to their 10 per cent daily limit after China's Premier Li Keqiang signed high-speed railway agreements with Russia this week, according to Reuters.