China shares end higher on optimism over govt economic recovery policies
Shares in China's top liquor makers hit record highs, as investors see industry recovery despite the coronavirus crisis.
BEIJING: China shares closed higher on Tuesday as optimism over the government's new policies seeking to support the economy trumped concerns over deteriorating Sino-U.S. relations.
The Shanghai Composite index closed up 0.2% at 2,921.40. The blue-chip CSI300 index was up 0.31%, with its financial sector sub-index higher by 1.04%, the consumer staples sector down 0.35%, the real estate index up 2.41% and the healthcare sub-index down 0.91%. The smaller Shenzhen index ended up 0.2% and the start-up board ChiNext Composite index was weaker by 0.599%.
"We can continue to expect a steady rebound in stock markets in the following days as the economy is walking away from the COVID-19 impact," said Zhang Yanbing, an analyst with Zheshang Securities, noting that tensions between Washington and Beijing are a smaller factor at the moment.
Shares in China's top liquor makers hit record highs, as investors see industry recovery despite the coronavirus crisis.
Shares in China's Hainan-based firms including Hainan Haide Industry Co Ltd, Hainan Dadonghai Tourism Centre (Holdings) and Huawen Media Group all surge by the 10% daily trade limit in morning tradings, as Beijing vowed to further open up the southern island.
The China government ordered state-owned firms to halt large-scale U.S. soybean purchases, raising the spectre of damaging trade disagreements between Washington and Beijing.
Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.61%, while Japan's Nikkei index closed up 1.19%. At 07:08 GMT, the yuan was quoted at 7.1229 per U.S. dollar, 0.09% firmer than the previous close of 7.129.
The Shanghai Composite index closed up 0.2% at 2,921.40. The blue-chip CSI300 index was up 0.31%, with its financial sector sub-index higher by 1.04%, the consumer staples sector down 0.35%, the real estate index up 2.41% and the healthcare sub-index down 0.91%. The smaller Shenzhen index ended up 0.2% and the start-up board ChiNext Composite index was weaker by 0.599%.
"We can continue to expect a steady rebound in stock markets in the following days as the economy is walking away from the COVID-19 impact," said Zhang Yanbing, an analyst with Zheshang Securities, noting that tensions between Washington and Beijing are a smaller factor at the moment.
Shares in China's top liquor makers hit record highs, as investors see industry recovery despite the coronavirus crisis.
Shares in China's Hainan-based firms including Hainan Haide Industry Co Ltd, Hainan Dadonghai Tourism Centre (Holdings) and Huawen Media Group all surge by the 10% daily trade limit in morning tradings, as Beijing vowed to further open up the southern island.
The China government ordered state-owned firms to halt large-scale U.S. soybean purchases, raising the spectre of damaging trade disagreements between Washington and Beijing.
Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.61%, while Japan's Nikkei index closed up 1.19%. At 07:08 GMT, the yuan was quoted at 7.1229 per U.S. dollar, 0.09% firmer than the previous close of 7.129.