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HONG KONG Shanghai- and Shenzhen-listed shares traded higher Monday, with some analysts attributing the gains to weekend comments by Chinese Premier Wen Jiabao seen as supportive for the stock market. The Shanghai Composite Index was up 2% from its previous close, while the Shenzhen Composite Index was 2.3% higher. Speaking at the conclusion of a two-day economic conference Saturday, Wen urged closer oversight of the nation’s financial markets, efforts to boost confidence in the share market, and rule changes to allow private-capital investment in banks and insurers. HSBC analyst Steven Sun in Hong Kong praised the development, saying the policies appeared to have positive short- and longer-term implications. They “could be a game-changer and a market re-rating catalyst, particularly in the long run,” said HSBC’s Sun.

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