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China shares subdued as investors eye stimulus amid higher COVID cases

03/23/2022 | 12:11am EDT

* SSEC -0.1%, CSI300 -0.1%, HSI 1.7%

* Healthcare firms rise on strong earnings

* Tech shares gain on Beijing's concession for auditing issues

SHANGHAI, March 23 (Reuters) - Chinese shares were little changed on Wednesday, as cautious investors awaited government measures to stabilise the economy amid a surge in COVID-19 infections.

** At the midday break, the Shanghai Composite index was down 0.14% at 3,255.32 points and the blue-chip CSI300 index slipped 0.08%.

** The healthcare sub-index jumped 1.74% on strong company earnings, and as China urged its people to take vaccines and carried out mass testing to contain an outbreak of Omicorn cases.

** Authorities in the Chinese city of Shanghai denied rumours of a city-wide lockdown after a sixth straight increase in daily asymptomatic coronavirus cases pushed its count to record levels despite a campaign of mass testing aimed at stifling the spread.

** China aims to produce 100,000 tonnes to 200,000 tonnes of green hydrogen per annum and have about 50,000 hydrogen-fuelled vehicles by 2025, as the country pushes to reduce carbon emission from its transportation and industrial sectors.

** The CSI New Energy Index gained 0.16%, with shares of hydrogen-related firms such as Hunan Hengguang Technology Co rising to their daily limit.

** Coal miners fell with the sub-sector index lost 3% as investors locked profits following recent rallies. ** Chinese H-shares listed in Hong Kong rose 1.84% to 7,677.04, while the Hang Seng Index was up 1.73% at 22,267.76.

** Tech firms listed in Hong Kong rose gained more than 3.23% in the morning trading on Beijing's possible concession for audit issues.

** Chinese regulators have asked some of the country's U.S.-listed firms, including Alibaba, Baidu and, to prepare for more audit disclosures, sources said, as Beijing steps up efforts to ensure domestic companies remain listed in New York.

** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.93% while Japan's Nikkei index was up 2.66%. ** The yuan was quoted at 6.3684 per U.S. dollar, 0.04% weaker than the previous close of 6.366. (Reporting by Shanghai Newsroom; editing by Uttaresh.V)

© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED -1.66% 116.76 Delayed Quote.-0.98%
AUSTRALIAN DOLLAR / CHINESE YUAN RENMINBI (AUD/CNY) 0.05% 4.634604 Delayed Quote.0.63%
BAIDU, INC. -0.93% 153.79 Delayed Quote.1.71%
BRITISH POUND / CHINESE YUAN RENMINBI (GBP/CNY) -0.45% 8.170322 Delayed Quote.-4.52%
CANADIAN DOLLAR / CHINESE YUAN RENMINBI (CAD/CNY) 0.36% 5.2157 Delayed Quote.3.23%
CITIC LIMITED 1.49% 8.15 Delayed Quote.4.29%
EURO / CHINESE YUAN RENMINBI (EUR/CNY) -0.39% 7.0512 Delayed Quote.-2.28%
HAIDILAO INTERNATIONAL HOLDING LTD. 7.40% 18.86 Delayed Quote.-0.23%
HONG KONG HANG SENG 0.85% 22418.97 Delayed Quote.-4.99%
HUNAN HENGGUANG TECHNOLOGY CO.,LTD. 3.16% 45.35 End-of-day quote.-26.91%
INDIAN RUPEE / CHINESE YUAN RENMINBI (INR/CNY) -0.47% 0.084933 Delayed Quote.0.22%
INNOVENT BIOLOGICS, INC. 4.23% 37 Delayed Quote.-26.42%
LANZHOU LS HEAVY EQUIPMENT CO., LTD 1.64% 6.83 End-of-day quote.-25.03%
NIKKEI 225 0.66% 27049.47 Real-time Quote.-6.67%
S&P/CITIC 300 INDEX 0.98% 4092.85 Real-time Quote.-9.74%
S&P/CITIC 50 INDEX 0.68% 3930.96 Real-time Quote.-6.95%
SUNAC CHINA HOLDINGS LIMITED -5.18% 4.58 Delayed Quote.-61.12%
SUNDY LAND INVESTMENT CO., LTD. -1.81% 3.79 End-of-day quote.39.85%
SUNNY LOAN TOP CO.,LTD. 1.95% 5.76 End-of-day quote.3.41%
SUZHOU KEDA TECHNOLOGY CO.,LTD 2.25% 5.9 End-of-day quote.-14.37%
TIANDI SCIENCE & TECHNOLOGY CO.LTD -4.17% 4.82 End-of-day quote.10.05%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.20% 6.70245 Delayed Quote.5.15%
US DOLLAR / CHINESE YUAN RENMINBI (USD/CNY) 0.23% 6.707 Delayed Quote.5.28%
WUXI BIOLOGICS (CAYMAN) INC. -2.09% 75.05 Delayed Quote.-17.18%
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