China shares rise on boost from healthcare, banking stocks

BEIJING/SHANGHAI: China shares rose on Wednesday with healthcare and banking stocks leading the gains, as investors cheered upbeat quarterly earnings results.

** At the midday break, the Shanghai Composite index was up 0.15% at 3,478.06 points, while the blue-chip CSI300 index was up 0.32%.
** The blue-chip's banking sector sub-index was higher by 1.52%, while the consumer staples sector was up 0.77%, and the healthcare sub-index up 1.67%.
** Lenders were cheered by investors after some banks posted upbeat quarterly results.
** Shenzhen shares in Ping An Bank Co Ltd climbed by 5.72% to 22.93 yuan in the morning session, touching their highest since March 5.
** The bank posted a 18.5% jump in net profit in the January-March quarter, thanks to the country's economic recovery.
** The sector's performance also shrugged off overnight comments from a senior banking regulator, who urged banks to prepare for a rebound in bad loans, and fully evaluate such risks.
** Chinese H-shares listed in Hong Kong fell 1.62% to 10,905.97, while the Hang Seng Index was down 1.63% at 28,661.58.
** The smaller Shenzhen index was up 0.22%, the start-up board ChiNext Composite index was higher by 0.42% and Shanghai's tech-focused STAR50 index was down 0.07%.
** Around the region, MSCI's Asia ex-Japan stock index was weaker by 1.07% while Japan's Nikkei index was down 2.23%.