AgenciesSHANGHAI: Healthcare and financial shares pushed China's blue-chip index higher on Thursday on continued investor optimism over swift recovery in the world's second-largest economy.
At the midday break, the Shanghai Composite index was up 0.63 per cent at 3,388.24 points. China's blue-chip CSI300 index was up 0.92 per cent, with its financial sector sub-index higher by 0.72 per cent, the consumer staples sector up 1.37 per cent.
The healthcare sub-index climbed 3.68 per cent, powered by 9.55 per cent jump in shares of Jiangsu Hengrui Medicine Co Ltd. Stock Connect data showed Hengrui was the second-most traded A-share through the Northbound leg of Stock Connect on Wednesday after the company announced promising results for a cancer drug. Index gains mirrored strength across the broader markets as investors welcomed the U.S. Federal Reserve's pledge keep funneling cash into financial markets until the U.S. economic recovery is secure.
Market focus has turned to the prospect of a pre-Christmas fiscal package from U.S. Congress.
U.S. lawmakers edged closer to agreement on a $900 billion virus-relief spending package on Wednesday with top Democrats and Republicans sounding more positive than they have in months about getting something done.
Chinese H-shares listed in Hong Kong rose 0.27 per cent to 10,490.21, while the Hang Seng Index was up 0.08 per cent at 26,481.79. The smaller Shenzhen index was up 0.55 per cent, the start-up board ChiNext Composite index was higher by 0.63 per cent and Shanghai's tech-focused STAR50 index was up 0.35 per cent?.
Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.25 per cent while Japan's Nikkei index was up 0.17 per cent.
The yuan was quoted at 6.5375 per U.S. dollar, 0.08 per cent weaker than the previous close of 6.5323.
So far this year, the Shanghai stock index is up 11.1 per cent? and the CSI300 climbed 22 per cent, while China's H-share index listed in Hong Kong is down 6.1 per cent. Shanghai stocks dropped 0.1 per cent this month.
At the midday break, the Shanghai Composite index was up 0.63 per cent at 3,388.24 points. China's blue-chip CSI300 index was up 0.92 per cent, with its financial sector sub-index higher by 0.72 per cent, the consumer staples sector up 1.37 per cent.
The healthcare sub-index climbed 3.68 per cent, powered by 9.55 per cent jump in shares of Jiangsu Hengrui Medicine Co Ltd. Stock Connect data showed Hengrui was the second-most traded A-share through the Northbound leg of Stock Connect on Wednesday after the company announced promising results for a cancer drug. Index gains mirrored strength across the broader markets as investors welcomed the U.S. Federal Reserve's pledge keep funneling cash into financial markets until the U.S. economic recovery is secure.
Market focus has turned to the prospect of a pre-Christmas fiscal package from U.S. Congress.
U.S. lawmakers edged closer to agreement on a $900 billion virus-relief spending package on Wednesday with top Democrats and Republicans sounding more positive than they have in months about getting something done.
Chinese H-shares listed in Hong Kong rose 0.27 per cent to 10,490.21, while the Hang Seng Index was up 0.08 per cent at 26,481.79. The smaller Shenzhen index was up 0.55 per cent, the start-up board ChiNext Composite index was higher by 0.63 per cent and Shanghai's tech-focused STAR50 index was up 0.35 per cent?.
Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.25 per cent while Japan's Nikkei index was up 0.17 per cent.
The yuan was quoted at 6.5375 per U.S. dollar, 0.08 per cent weaker than the previous close of 6.5323.
So far this year, the Shanghai stock index is up 11.1 per cent? and the CSI300 climbed 22 per cent, while China's H-share index listed in Hong Kong is down 6.1 per cent. Shanghai stocks dropped 0.1 per cent this month.
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