China stocks end higher

China stocks ended higher on Wednesday, aided by strong gains in consumer and transport firms.

At the close, the Shanghai Composite index was up 22.85 points or 0.7 % at 3,303.

The blue-chip CSI300 index was up 0.86 %, with its financial sector sub-index higher by 0.49 %, the consumer staples sector up 2.75 %, the real estate index up 0.33 % and healthcare sub-index up 0.67 %.

The smaller Shenzhen index ended up 0.77 % and the start-up board ChiNext Composite index was higher by 0.41 %.

Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.52 % while Japan’s Nikkei index closed down 0.47 %.

At 07:01 GMT, the yuan was quoted at 6.6183 per U.S. dollar, 0.05 % firmer than the previous close of 6.6215.

The largest percentage gainers in the main Shanghai Composite index were Air China Ltd up by 9.73 %, followed by Grinm Advanced Materials Co Ltd gaining 8.78 % and Tsingtao Brewery Co Ltd up by 7.44 %.

The largest percentage losses in the Shanghai index were Jinzhou New China Dragon Molybdenum Co Ltd down by 3.7 %, followed by Dr.Peng Telecom & Media Group Co Ltd losing 3.58 % and Zhejiang Huayou Cobalt Co Ltd down by 3.41 %.

So far this year, the Shanghai stock index is up 5.71 %, the CSI300 is up 22.4 % this year, while China’s H-share index listed in Hong Kong is up 20.4 %. Shanghai stocks have declined 1.1 % this month.

About 11.20 billion shares were traded on the Shanghai exchange, roughly 65.2 % of the market’s 30-day moving average of 17.17 billion shares a day. The volume in the previous trading session was 12.46 billion.

As of 07:02 GMT, China’s A-shares were trading at a premium of 30.02 % over the Hong Kong-listed H-shares.

The Shanghai stock index is below its 50-day moving average and above its 200-day moving average.

The price-to-earnings ratio of the Shanghai index was 14.71 as of the last full trading day while the dividend yield was 2 %.

So far this week, the market capitalisation of the Shanghai stock index has fallen by 0.20 % to 28.58 trillion yuan.



News Reporter

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