SHANGHAI, July 9 (Reuters) - China shares on Thursday extended their rally into an eighth day, fuelled by liquidity, policy support and retail investor enthusiasm, even as regulators cracked down on margin financing and as state media warned of market risks.
The Shanghai Composite index was up 1.39% at 3,450.59, its highest close since February 2018. The index gained for eight consecutive sessions, its longest winning streak since January 2018.
The blue-chip CSI300 index was up 1.4% at its highest close since June 2015.
The smaller Shenzhen index ended up 2.7% and the start-up board ChiNext Composite index was higher by 3.985%.
Business mood soared despite data showing that China's factory gate prices fell for a fifth straight month in June as the pandemic weighed heavily on industrial demand.
After the recent bull run in equities, Chinese state-run media warned in commentary that investors should pursue rational investments and respect the market and manage risks.
That followed China's securities regulator publishing a list of illegal margin lending platforms and their operators to try to tame the bull run.
Retail investors scrambling to join the rally have pushed trading volumes sharply higher. About 62 billion shares were traded on the Shanghai exchange on Thursday, roughly 218.9% of the market's 30-day moving average of 28.33 billion shares a day.
As of 0703 GMT, China's A-shares were trading at a premium of 35.91% over the Hong Kong-listed H-shares. Investors have begun turning to Hong Kong for bargains, egging on an investment boom.
Around the region, MSCI 's Asia ex-Japan stock index was firmer by 0.66%, while Japan's Nikkei index closed up 0.4%.
At 0702 GMT, the yuan was quoted at 6.9866 per U.S. dollar, 0.26% firmer than the previous close of 7.0049. (Reporting by Andrew Galbraith, Editing by Sherry Jacob-Phillips)

Sumber : reuters.com