MW: Shanghai shares rise sharply in late-morning trade
By Michael Kitchen
LOS ANGELES (MarketWatch) -- The Shanghai Composite traded 2% higher at 2,660.3 in late Monday morning action, with blue-chips and property shares leading the charge. Among top performers on the notoriously volatile Shanghai exchange were Air China Ltd. (CN:601111 11.26, +0.77, +7.34%) (AIRYY 17.19, +0.43, +2.57%) (HK:753 7.37, +0.52, +7.59%) , up 7.2%; Poly Real Estate Group Co. (CN:600048 12.14, +0.99, +8.88%) rising 7.5%, and China Citic Bank Corp. Ltd. (CN:601998 5.59, +0.25, +4.68%) (CHBJF 0.58, -0.08, -11.54%) gaining 5.8%. Some reports attributed the gains in the real-estate sector plays to a belief Beijing will ease up on recent measures to cool rapidly rising housing and land prices.
