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China stocks inch higher on healthcare boost

09/23/2020 | 12:55am EST

SHANGHAI, Sept 23 (Reuters) - China stocks inched higher on Wednesday, led by gains in healthcare shares after the state planner said the country will accelerate development of vaccines.

** At the midday break, the Shanghai Composite index was up 0.02% at 3,275.09. China's blue-chip CSI300 index was up 0.13%. Healthcare shares led gains in the broader market, with its sub-index jumping 3.65%.

** The National Development and Reform Commission (NDRC) said on Wednesday China will speed up development of vaccine innovation, diagnostic, testing reagents and antibody drugs.

** Meanwhile, U.S. President Donald Trump told the United Nations General Assembly China must be held accountable for having "unleashed" COVID-19 on the world. Beijing accused him of "lies" and abusing the U.N. platform to provoke confrontation.

** Major Chinese liquor makers fell more than the broader market, as authorities showed concerns over continued price hikes in high-end liquor products that could stoke resurgence of recreational activities using public funds. Kweichow Moutai Co Ltd fell as much as 2.7% in morning trade.

** Chinese H-shares listed in Hong Kong fell 0.16% to 9,561.75, while the Hang Seng Index was down 0.01% at 23,713.97. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares dipped 0.9% while the IT sector rose 0.9%.

** The smaller Shenzhen index was up 0.5%, the start-up board ChiNext Composite index was higher by 1.47% and Shanghai's tech-focused STAR50 index was up 2.63%.

** Around the region, MSCI's Asia ex-Japan stock index was weaker by 1.01% and Japan's Nikkei index was down 0.39%.

** The yuan was quoted at 6.7948 per U.S. dollar, 0.19% weaker than the previous close of 6.7818.

(Reporting by Winni Zhou and Andrew Galbraith; editing by Uttaresh.V)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ANTA SPORTS PRODUCTS LIMITED 1.54% 131.5 End-of-day quote.7.00%
CHINA GAS HOLDINGS LIMITED -3.61% 30.75 End-of-day quote.-0.16%
CHINA MENGNIU DAIRY COMPANY LIMITED 1.57% 48.55 End-of-day quote.3.74%
CHINA TAIPING INSURANCE HOLDINGS COMPANY LIMITED -1.49% 15.82 End-of-day quote.13.16%
CHONGQING ZHENGCHUAN PHARMACEUTICAL PACKAGING CO.,LTD. 3.03% 64.36 End-of-day quote.-11.58%
GUANGDONG GUANHAO HIGH-TECH CO., LTD. 10.12% 4.68 End-of-day quote.1.30%
HANG SENG 2.71% 29630.38 Real-time Quote.5.94%
HSBC HOLDINGS PLC 2.20% 411.75 Delayed Quote.6.37%
KWEICHOW MOUTAI CO.,LTD. -0.91% 2063 End-of-day quote.3.25%
MSCI AC ASIA EX JAPAN (STRD, UHD) -0.10% 890.509 Real-time Quote.5.75%
NANJING OLO HOME FURNISHING CO.,LTD 10.05% 10.73 End-of-day quote.20.02%
NIKKEI 225 1.39% 28633.46 Real-time Quote.2.91%
PICC PROPERTY AND CASUALTY COMPANY LIMITED -0.16% 6.2 End-of-day quote.5.62%
POSTAL SAVINGS BANK OF CHINA CO., LTD. 0.38% 5.29 End-of-day quote.20.78%
QIBU CO.,LTD. 0.38% 7.88 End-of-day quote.-13.41%
S&P/CITIC 300 INDEX -0.51% 4791.09 Delayed Quote.5.98%
S&P/CITIC 50 INDEX -1.14% 4816 Delayed Quote.4.45%
SHANGHAI AEROSPACE AUTOMOBILE ELECTROMECHANICAL CO., LTD. 3.31% 8.75 End-of-day quote.1.16%
SHENZHEN STOCK EXCHANGE A SHARE INDEX -0.96% 2489.2319 Real-time Quote.3.11%
SINO BIOPHARMACEUTICAL LIMITED -0.28% 7.04 End-of-day quote.-6.13%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.21% 6.4793 Delayed Quote.-0.23%
US DOLLAR / CHINESE YUAN RENMINBI (USD/CNY) -0.18% 6.4788 Delayed Quote.-0.69%
XIAOMI CORPORATION 2.05% 29.9 End-of-day quote.-9.94%
ZHEJIANG JIAHUA ENERGY CHEMICAL INDUSTRY CO.,LTD. 0.35% 8.62 End-of-day quote.-6.71%
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