Mainland index at highest for month

SHANGHAI: Mainland stocks advanced, driving the benchmark index to its highest in a month, after the government said it will extend support for the country's industries amid weak global demand.

Qingdao Haier Co and Jiangling Motors Corp paced gains among consumer-related companies after the State Council said it would maintain measures to boost car and home appliance sales in rural areas. China Merchants Bank Co led an advance by financial companies on speculation this year's losses were excessive relative to earnings prospects.

The Shanghai Composite Index added 38.44, or 1.3 percent, to close at 3060.62, the highest since Jan 25. The gauge has dropped 6.6 percent so far this year. The CSI 300 Index gained 1.5 percent to 3292.13.