Mainland stock rise extends into 6th day

SHANGHAI - The mainland benchmark stock index rose for a sixth day as investors shifted funds to financial companies on improving earnings prospects from so-called defensive companies, including producers of consumer staples.

Citic Securities Ltd, among the top 10 biggest losers on the Shanghai Composite Index this year, jumped 6.3 percent as share trading volumes on China's exchanges surged. Huaxia Bank Co gained 1.3 percent after forecasting higher profit.

"Abundant liquidity globally and a more optimistic outlook for the economy and corporate profits will push stocks higher," said Dai Ming, a fund manager at Shanghai Kingsun Investment Management & Consulting Co.