Shanghai stocks end higher as Trump, Kim sign 'comprehensive' deal at summit
SHANGHAI: Shanghai stocks recovered from early losses to end higher on Tuesday, as sentiment improved after US President Donald Trump and North Korean leader Kim Jong Un signed a 'comprehensive' deal aimed at the denuclearisation of the Korean peninsula.
The blue-chip CSI300 index ended 1.2 per cent higher at 3,825.95 points, while the Shanghai Composite Index ended up 0.9 per cent at 3,079.80 points, snapping a three-session losing streak.
There were no immediate details on the contents of the document, but Donald Trump said he expected the denuclearisation process to start "very, very quickly".
Sectors rallied across the board, led by consumer and healthcare firms. Jiangsu Yanghe Brewery rose 6.4 per cent to a record high, while the world's most valuable liquor maker Kweichow Moutai also closed at a fresh peak.
However, caution still prevailed, with more than a dozen of stocks plunging to their lower limit of 10 per cent , as investors worried about liquidity conditions amid credit risks and more listings by technology giants that could sap the already-tight funding.
Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.16 per cent , while Japan's Nikkei index closed up 0.33 per cent .
At 0701 GMT, the yuan was quoted at 6.4023 per US dollar, 0.04 per cent firmer than the previous close of 6.4047.
The largest per cent age gainers in the main Shanghai Composite index were Xiamen XGMA Machinery Co Ltd, which ended up 10.12 per cent , followed by Shanghai Laiyifen Co Ltd , which closed 10.02 per cent higher and Chongqing Wanli New Energy Co Ltd, which ended 10.02 per cent firmer.
The largest per cent age losses in the Shanghai index were Henan Rebecca Hair Products Co Ltd, which closed down 10 per cent , followed by Changyuan Group Ltd, which ended 9.99 per cent lower and Guizhou Salvage Pharmaceutical Co Ltd, which closed down 9.9 per cent .
So far this year, the Shanghai stock index is down 6.9 per cent , the CSI300 dropped 5.1 per cent , while China's H-share index listed in Hong Kong rose 4.6 per cent . Shanghai stocks have declined 0.48 per cent this month.
About 11.33 billion shares were traded on the Shanghai exchange, roughly 85.7 per cent of the market's 30-day moving average of 13.22 billion shares a day. The volume in the previous trading session was 10.86 billion shares.
As of 0702 GMT, China's A-shares were trading at a premium of 17.32 per cent over the Hong Kong-listed H-shares.
The blue-chip CSI300 index ended 1.2 per cent higher at 3,825.95 points, while the Shanghai Composite Index ended up 0.9 per cent at 3,079.80 points, snapping a three-session losing streak.
There were no immediate details on the contents of the document, but Donald Trump said he expected the denuclearisation process to start "very, very quickly".
Sectors rallied across the board, led by consumer and healthcare firms. Jiangsu Yanghe Brewery rose 6.4 per cent to a record high, while the world's most valuable liquor maker Kweichow Moutai also closed at a fresh peak.
However, caution still prevailed, with more than a dozen of stocks plunging to their lower limit of 10 per cent , as investors worried about liquidity conditions amid credit risks and more listings by technology giants that could sap the already-tight funding.
Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.16 per cent , while Japan's Nikkei index closed up 0.33 per cent .
At 0701 GMT, the yuan was quoted at 6.4023 per US dollar, 0.04 per cent firmer than the previous close of 6.4047.
The largest per cent age gainers in the main Shanghai Composite index were Xiamen XGMA Machinery Co Ltd, which ended up 10.12 per cent , followed by Shanghai Laiyifen Co Ltd , which closed 10.02 per cent higher and Chongqing Wanli New Energy Co Ltd, which ended 10.02 per cent firmer.
The largest per cent age losses in the Shanghai index were Henan Rebecca Hair Products Co Ltd, which closed down 10 per cent , followed by Changyuan Group Ltd, which ended 9.99 per cent lower and Guizhou Salvage Pharmaceutical Co Ltd, which closed down 9.9 per cent .
So far this year, the Shanghai stock index is down 6.9 per cent , the CSI300 dropped 5.1 per cent , while China's H-share index listed in Hong Kong rose 4.6 per cent . Shanghai stocks have declined 0.48 per cent this month.
About 11.33 billion shares were traded on the Shanghai exchange, roughly 85.7 per cent of the market's 30-day moving average of 13.22 billion shares a day. The volume in the previous trading session was 10.86 billion shares.
As of 0702 GMT, China's A-shares were trading at a premium of 17.32 per cent over the Hong Kong-listed H-shares.