BLUE-CHIP stocks reached a 26-month high yesterday, led by infrastructure and property shares, as investors cheered robust earnings growth and felt comfortable with economic policy.

About 100 Shanghai-listed companies have disclosed third-quarter earnings, with combined net profit jumping 47 percent from a year earlier, according to Shanghai Securities News.

The blue-chip CSI300 index rose 0.7 percent, to 3,959.40 points, while the Shanghai Composite Index added 0.2 percent to 3,388.25 points.

“Demand growth at ... material producers and users was generally stable in September,” brokerage CLSA said in a note.

“Manufacturing demand helped offset weaker property demand, a trend that will continue in the fourth quarter of the year.”

Sectors rose across the board.

Gains were led by infrastructure and real estate stocks, which rallied after recent weakness on concerns that the government may not loosen its housing market curbs any time soon.

Material stocks also steadied after posting solid growth in the first nine months of the year.

Fangda Special Steel Technology’s added 1.9 percent, after the steelmaker’s net profit more than doubled for the January-September period.(SD-Agencies)