Financial firms help pull Shanghai shares to close higher

Shangahi stocks edged up on Monday, helped by financial shares amid a positive market sentiment as well as strong interim results from state industrial giants.

The Shanghai Composite Index gained 0.93 percent to 3,362.65 points.

Financial shares led gainers, with brokerages outperforming other sectors. Both Galaxy Securities and Orient Securities surged by the daily limit of 10 percent and CITIC Securities jumped 6.18 percent to 18.20 yuan while Guoyuan Securities advanced 5.41 percent to 14.82 yuan. 

The Hong Kong listed shares of Shenhua Energy Co added 2 percent today after the merger between its parent Shenhua Group and China Guodian Corporation received regulatory approval.

Earnings for China's industrial firms rose 16.5 per cent in July from a year earlier, data showed on Sunday, pushing up energy giants such as Shanxi Coking Co by 10 percent and Datong Col Industry Co Ltd by 2.33 percent.