The Financial Express

China shares rise on economic optimism

Published: December 21, 2017 13:46:03 | Updated: December 22, 2017 11:12:37

File Photo (Reuters) File Photo (Reuters)

China shares rose on Thursday, as investors were inspired by Beijing’s commitment to maintain steady economic growth next year while deepening structural reforms and curbing financial risks.

At the close, the Shanghai Composite index was up 13.08 points or 0.4 per cent at 3,300.68. The blue-chip CSI300 index was up 0.93 per cent, reports Reuters.

Healthcare and consumer stocks also gained on the optimism.

The smaller Shenzhen index ended up 0.72 per cent and the start-up board ChiNext Composite index was higher by 0.41 per cent.

At 07:03 GMT, the yuan was quoted at 6.573 per US dollar, 0.07 per cent firmer than the previous close of 6.5775.

The largest percentage gainers in the main Shanghai Composite index were Poly Real Estate Group Co Ltd up 7.61 per cent, followed by Shanghai Fosun Pharmaceutical Group Co Ltd gaining 7.12 per cent and China Jushi Co Ltd up 7.03 per cent.

The largest percentage losses were Guizhou Yibai Pharmaceutical Co Ltd down 7.54 per cent, followed by Hebei Jinniu Chemical Industry Co Ltd losing 5.98 per cent and Wenyi Suntech Co Ltd down by 5.05 per cent.

As of 07:03 GMT, China’s A-shares were trading at a premium of 30.82 per cent over the Hong Kong-listed H-shares.

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