Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

China shares end higher with support from consumer, financial stocks

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/03/2019 | 02:47am EST
An investor walks past a screen displaying stock information at a brokerage house in Shanghai

China stocks reversed course to end higher on Tuesday, led by gains in consumer and financial shares, as investors chased firms with low valuations following recent upbeat factory data.

** The blue-chip CSI300 index <.CSI300> rose 0.4% to 3,851.09, while the Shanghai Composite Index closed up 0.3% at 2,884.70.

** The benchmark Shanghai index briefly hit a more than three-month low in early morning trade, as Washington's latest tariffs added to jitters over the prospects of a so-called "phase one" Sino-U.S. trade deal.

** Helping recoup losses were consumer discretionary <.CSI000911> and financial stocks <.CSI300FS>, with bellwether Gree Electric climbing 5.4%.

** Market was also underpinned by robust northbound inflows via the Stock Connect linking Hong Kong and Shanghai, which totalled 4.6 billion yuan for the day, as foreign investors increase their China exposure.

** For now, it's a relatively good choice to pursue the strategy of buying stocks with low valuations as China's temporary economy stabilization due to countercyclical policies would help promote risk appetite for those players, including financial firms, Changjiang Securities noted in report.

** Factory activity in China unexpectedly returned to growth in November for the first time in seven months, as domestic demand picked up on Beijing's accelerated stimulus measures to steady growth.

** Around the region, MSCI's Asia ex-Japan stock index <.MIAPJ0000PUS> was weaker by 0.43%, while Japan's Nikkei index <.N225> closed down 0.64%.

** At 07:19 GMT, the yuan <CNY=CFXS> was quoted at 7.0409 per U.S. dollar, barely changed from its previous close.

** So far this year, the Shanghai stock index is up 15.7% and the CSI300 has risen 27.9%, while China's H-share index listed in Hong Kong is up 2.4%. Shanghai stocks have risen 0.44% this month.

** As of 07:20 GMT, China's A-shares were trading at a premium of 29.08% over the Hong Kong-listed H-shares.

(Reporting by Shanghai Newsroom; Editing by Sriraj Kalluvila)

Stocks mentioned in the article
ChangeLast1st jan.
BEIJING JINGCHENG MACHINERY ELECTRIC COMPANY LIMITED -2.44% 6 End-of-day quote.37.58%
CHINA-SHANGHAI COMP 0.10% 2917.32 End-of-day quote.16.79%
CHONGQING FULING ELECTRIC POWER INDUSTRIAL CO., LTD. 0.52% 17.42 End-of-day quote.9.34%
GREE ELECTRIC APPLIANCES INC OF ZHUHAI End-of-day quote.
HARBIN VITI ELECTRONICS CO., LTD. 2.68% 5.75 End-of-day quote.20.17%
HEWLETT PACKARD ENTERPRISE -0.31% 15.84 Delayed Quote.19.91%
NIKKEI 225 -0.08% 23391.86 Real-time Quote.16.69%
QINGHAIHUADING INDUSTRIAL CO.,LTD. 2.03% 5.52 End-of-day quote.39.79%
SHANGHAI CHUANGLI GROUP CO., LTD. -0.41% 9.73 End-of-day quote.21.67%
TAIYUAN CHEMICAL INDUSTRY CO., LTD. -2.08% 4.24 End-of-day quote.20.95%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.16% 7.03835 Delayed Quote.2.33%
US DOLLAR / CHINESE YUAN RENMINBI (USD/CNY) 0.11% 7.0398 Delayed Quote.2.38%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
05:18aIATA cuts 2019 airline profit forecast, sees stability in 2020
RE
05:16aNEWS HIGHLIGHTS : Top Global Markets News of the Day
DJ
05:16aNEWS HIGHLIGHTS : Top Company News of the Day
DJ
05:13aChina tightens controls on ownership transfers of state-owned financial firms
RE
05:12aOil prices fall as U.S. crude stocks jump
RE
05:02aTimeline - Saudi Aramco's winding road to an IPO
RE
05:01aS.Africa's Absa appoints new international head
RE
04:57aOil prices fall as U.S. crude stocks jump
RE
04:56aSmall British banks want softer rules to help them compete
RE
04:56aElection tension drags UK-focussed stocks lower
RE
Latest news "Economy & Forex"