China shares soar to 6-week closing high

HONG KONG, Feb 10 (Reuters): China shares closed at their highest in nearly six weeks in robust volumes on Monday, as investors cheered a litany of policy announcements seen favourable to earnings growth for sectors from autos to insurers and infrastructure.
The Shanghai Composite Index ended up 2 per cent at 2,086.1 points, its highest since January 2, while the CSI300 of the biggest Shanghai and Shenzhen A-share listings jumped 2.5 per cent to its highest since January 3.
Gains on Monday came in the strongest Shanghai volumes in more than two months ahead of a fresh batch of macroeconomic data later in the week. The People's Bank of China's two weekly scheduled open market operations will also come into focus, with maturities due to drain 450 billion yuan ($74.22 billion) this week.
Warren Buffett-backed BYD Co surged by the maximum 10 per cent limit in Shenzhen, leading gains in the auto sector after the Chinese government extended subsidies for electric vehicles beyond 2015.
The sector was further buoyed by an announcement from the finance ministry at the midday trading break of an up to 18,000 yuan subsidy for every truck that is recycled in 2014.