China stocks rally on stronger-than-expected factory activity
Reuters|
Jan 02, 2018, 01.23 PM IST
China stocks started 2018 on a bullish note following a survey showing better-than-expected manufacturing activity in December.
A private business survey showed growth in China's manufacturing sector unexpectedly rose to to a four-month high in December thanks to a surge in new orders. The Shanghai Composite index closed up 41.88 points or 1.27 per cent at 3,349.05.
The blue-chip CSI300 index was up 1.41 per cent, with its financial sector sub-index higher by 2.05 per cent, the consumer staples sector up 0.51 per cent, the real estate index up 3.79 per cent and healthcare sub-index up 0.03 per cent.
The smaller Shenzhen index ended 1.05 per cent up and the start-up board ChiNext Composite index was higher by 0.97 per cent.
Around the region, MSCI's Asia ex-Japan stock index was 1.08 per cent firmer while Japan's Nikkei index closed down 0.08 per cent .
At 07:01 GMT, the yuan was quoted at 6.4953 per U.S. dollar, 0.18 per cent firmer than the previous close of 6.5069.
The largest per centage gainers in the main Shanghai Composite index were Fujian Cement Inc up 10.04 per cent, followed by Shandong Lubei Chemical Co Ltd gaining 10.03 per cent and China Jushi Co Ltd up by 10.01 per cent.
The largest per centage losers were BOCO Inter-Telecom Co Ltd down 5.03 per cent, followed by Jiangsu Protruly Vision Technology Group Co Ltd down 4.96 per cent and HUAYU Automotive Systems Co Ltd down by 4.65 per cent.
About 20.23 billion shares were traded on the Shanghai exchange, roughly 133.4 per cent of the market's 30-day moving average of 15.16 billion shares a day. The volume in the previous trading session was 0.00.
As of 07:02 GMT, China's A-shares were trading at a premium of 29.17 per cent 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 14.87 as of the last full trading day while the dividend yield was 1.9 per cent.
So far this week, the market capitalisation of the Shanghai stock index has risen by 0.07 per cent to 28.92 trillion yuan.
A private business survey showed growth in China's manufacturing sector unexpectedly rose to to a four-month high in December thanks to a surge in new orders. The Shanghai Composite index closed up 41.88 points or 1.27 per cent at 3,349.05.
The blue-chip CSI300 index was up 1.41 per cent, with its financial sector sub-index higher by 2.05 per cent, the consumer staples sector up 0.51 per cent, the real estate index up 3.79 per cent and healthcare sub-index up 0.03 per cent.
The smaller Shenzhen index ended 1.05 per cent up and the start-up board ChiNext Composite index was higher by 0.97 per cent.
Around the region, MSCI's Asia ex-Japan stock index was 1.08 per cent firmer while Japan's Nikkei index closed down 0.08 per cent .
At 07:01 GMT, the yuan was quoted at 6.4953 per U.S. dollar, 0.18 per cent firmer than the previous close of 6.5069.
The largest per centage gainers in the main Shanghai Composite index were Fujian Cement Inc up 10.04 per cent, followed by Shandong Lubei Chemical Co Ltd gaining 10.03 per cent and China Jushi Co Ltd up by 10.01 per cent.
The largest per centage losers were BOCO Inter-Telecom Co Ltd down 5.03 per cent, followed by Jiangsu Protruly Vision Technology Group Co Ltd down 4.96 per cent and HUAYU Automotive Systems Co Ltd down by 4.65 per cent.
About 20.23 billion shares were traded on the Shanghai exchange, roughly 133.4 per cent of the market's 30-day moving average of 15.16 billion shares a day. The volume in the previous trading session was 0.00.
As of 07:02 GMT, China's A-shares were trading at a premium of 29.17 per cent 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 14.87 as of the last full trading day while the dividend yield was 1.9 per cent.
So far this week, the market capitalisation of the Shanghai stock index has risen by 0.07 per cent to 28.92 trillion yuan.
