China stocks end firmer as weak data bolsters stimulus hopes
MSCI's Asia ex-Japan stock index was weaker by 0.4 per cent.
Reuters|
Nov 14, 2019, 02.41 PM IST
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China shares rebounded from six-month lows to end higher on Thursday after data reflecting a sharper slowdown in industrial activity in October reinforced expectations that Beijing will introduce fresh measures to support economic growth.
At the close, the Shanghai Composite index was up 0.16 per cent at 2,909.87. In the previous session, the index hit its lowest closing in more than six weeks. The blue-chip CSI300 index ended 0.15 per cent firmer, with its financial sector sub-index lower by 0.3 per cent, the consumer staples sector up 0.01 per cent, the real estate index ended down 0.17 per cent and the healthcare sub-index closed 1.51 per cent higher.
China's industrial production rose 4.7 per cent year-on-year in October, significantly slower than expected on weakness in global and domestic demand, and as a drawn-out trade war with the United States weighed on activity.
The smaller Shenzhen index ended up 0.61 per cent, while the start-up board ChiNext Composite index closed higher by 0.642 per cent. Shares in Shenzhen-listed Hangzhou Hikvision Digital Technology Co Ltd fell 2.46 per cent after the company said China's securities regulator was investigating two Hikvision directors for alleged violations of disclosure rules.
Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.4 per cent, while Japan's Nikkei index closed down 0.76 per cent. At 0703 GMT, the yuan was quoted at 7.0198 per U.S. dollar, 0.05 per cent firmer than the previous close of 7.023.
The largest percentage gainers in the main Shanghai Composite index were Eastern Gold Jade Co Ltd, up 10.16 per cent, followed by Universal Scientific Industrial Shanghai Co Ltd , gaining 10.03 per cent and Super Telecom Co Ltd , which closed up 10.02 per cent.
The largest percentage losses in the Shanghai index were Shangying Global Co Ltd, which closed 10.01 per cent lower, followed by Jiangsu Fengshan Group Co Ltd losing 8.06 per cent and Anhui Andeli Department Store Co Ltd, which ended 7.15 per cent weaker.
. So far this year, the Shanghai stock index rose 16.7 per cent and the CSI300 advanced 29.7 per cent, while China's H-share index listed in Hong Kong is up 2.8 per cent. Shanghai stocks declined 0.66 per cent so far this month.
At the close, the Shanghai Composite index was up 0.16 per cent at 2,909.87. In the previous session, the index hit its lowest closing in more than six weeks. The blue-chip CSI300 index ended 0.15 per cent firmer, with its financial sector sub-index lower by 0.3 per cent, the consumer staples sector up 0.01 per cent, the real estate index ended down 0.17 per cent and the healthcare sub-index closed 1.51 per cent higher.
China's industrial production rose 4.7 per cent year-on-year in October, significantly slower than expected on weakness in global and domestic demand, and as a drawn-out trade war with the United States weighed on activity.
The smaller Shenzhen index ended up 0.61 per cent, while the start-up board ChiNext Composite index closed higher by 0.642 per cent. Shares in Shenzhen-listed Hangzhou Hikvision Digital Technology Co Ltd fell 2.46 per cent after the company said China's securities regulator was investigating two Hikvision directors for alleged violations of disclosure rules.
Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.4 per cent, while Japan's Nikkei index closed down 0.76 per cent. At 0703 GMT, the yuan was quoted at 7.0198 per U.S. dollar, 0.05 per cent firmer than the previous close of 7.023.
The largest percentage gainers in the main Shanghai Composite index were Eastern Gold Jade Co Ltd, up 10.16 per cent, followed by Universal Scientific Industrial Shanghai Co Ltd , gaining 10.03 per cent and Super Telecom Co Ltd , which closed up 10.02 per cent.
The largest percentage losses in the Shanghai index were Shangying Global Co Ltd, which closed 10.01 per cent lower, followed by Jiangsu Fengshan Group Co Ltd losing 8.06 per cent and Anhui Andeli Department Store Co Ltd, which ended 7.15 per cent weaker.
. So far this year, the Shanghai stock index rose 16.7 per cent and the CSI300 advanced 29.7 per cent, while China's H-share index listed in Hong Kong is up 2.8 per cent. Shanghai stocks declined 0.66 per cent so far this month.
