China banking stocks rise amid signs of state support
** China's banking shares jump, led by "Big Four" state lenders, amid signs of support from state-backed funds
** The CSI Banks Index .CSI399986 gains more than 1%
** The Shanghai-listed shares of Agriculture Bank of China 601288.SS hit record high, on track for an eight-session winning streak
** China Construction Bank shares 601939.SS rise more than 1% to record high levels
** The Industrial and Commercial Bank of China (ICBC) 601398.SS, the country's biggest bank, rises more than 1%; on track for ninth consecutive session of gains
** Bank of China shares 601988.SS also on track to rise for nine sessions in a row
** Investors are lured by generous dividend payouts by Chinese banks, as regulators urge listed companies to treat small shareholders better
** Signs of heavy inflows into a handful of blue-chip exchange-traded funds (ETF) used by state-backed funds as investment channels also boost sentiment
** Net inflows into stock ETFs exceeded 20 billion yuan ($2.80 billion) last week, the official Shanghai Securities News reports
** ETF investment by state fund Central Huijin helped stabilize the market, the newspaper says, citing Citic Securities
($1 = 7.1462 Chinese yuan renminbi)
Reporting by Shanghai newsroom
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