AgenciesSHANGHAI: China stocks ended higher on Friday on gains for financial firms, following Beijing's stamp duty cut proposal, though they post weekly losses amid renewed worries over Sino-U.S. tensions.
The blue-chip CSI300 index rose 0.5 per cent, to 5,282.28, while the Shanghai Composite Index firmed 0.2 per cent to 3,591.84 points.
Shenzhen's start-up board ChiNext rose 1.3 per cent, while Shanghai's tech-focused STAR50 index added 1.2 per cent.
Financial firms led the gains on Friday.
China has proposed an "appropriate reduction" to stamp duty，said a spokesperson for the Legislative Affairs Commission of the National People's Congress Standing Committee.
Shares in China's brokerages firms rose, with the CSI SWS securities index and the CSI300 financials index both up 0.8 per cent.
Though for the week, CSI300 lost 0.7 per cent, while SSEC slipped 0.2 per cent, after gaining 3.6 per cent and 3.3 per cent in the previous week, respectively.
The weekly retreat came as investors locked in profits following a robust rally in the past weeks, even as Sino-U.S. tensions weighed.
U.S. President Joe Biden signed an executive order on Thursday that bans U.S. entities from investing in dozens of Chinese companies with alleged ties to defence or surveillance technology sectors.
Separately, the investor reaction was also tepid to China's major birth policy shift as analysts and traders saw limited impact.
"I believe it will have an impact on China's longer term economic growth rather than on the stock market," said Luo Kun, investment manager at Chasing Securities' equities investment arm.
"The policy would have limited impact on those couples who already have two children," he added.
Consumer and healthcare firms, seen benefiting from the policy, were mixed for the week, with the CSI300 consumer staples index and the CSI300 healthcare index down 2.7 per cent and up 0.5 per cent.
The blue-chip CSI300 index rose 0.5 per cent, to 5,282.28, while the Shanghai Composite Index firmed 0.2 per cent to 3,591.84 points.
Shenzhen's start-up board ChiNext rose 1.3 per cent, while Shanghai's tech-focused STAR50 index added 1.2 per cent.
Financial firms led the gains on Friday.
China has proposed an "appropriate reduction" to stamp duty，said a spokesperson for the Legislative Affairs Commission of the National People's Congress Standing Committee.
Shares in China's brokerages firms rose, with the CSI SWS securities index and the CSI300 financials index both up 0.8 per cent.
Though for the week, CSI300 lost 0.7 per cent, while SSEC slipped 0.2 per cent, after gaining 3.6 per cent and 3.3 per cent in the previous week, respectively.
The weekly retreat came as investors locked in profits following a robust rally in the past weeks, even as Sino-U.S. tensions weighed.
U.S. President Joe Biden signed an executive order on Thursday that bans U.S. entities from investing in dozens of Chinese companies with alleged ties to defence or surveillance technology sectors.
Separately, the investor reaction was also tepid to China's major birth policy shift as analysts and traders saw limited impact.
"I believe it will have an impact on China's longer term economic growth rather than on the stock market," said Luo Kun, investment manager at Chasing Securities' equities investment arm.
"The policy would have limited impact on those couples who already have two children," he added.
Consumer and healthcare firms, seen benefiting from the policy, were mixed for the week, with the CSI300 consumer staples index and the CSI300 healthcare index down 2.7 per cent and up 0.5 per cent.
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