China stocks rise on robust services sector activity

China stocks rose for the fifth consecutive day Thursday, aided by data showing Chinese services sector activity grew at its best pace in more than three years in December.

China’s services sector activity expanded in December on solid growth in new business, with the outlook improving to a six-month high, a private sector survey showed on Thursday.

At the close, the Shanghai Composite index was up 17.40 points or 0.52 per cent at 3,386.50, reports Reuters.

The blue-chip CSI300 index was up 0.44 per cent, with its financial sector sub-index lower by 0.09 per cent , the consumer staples sector up 2.71 per cent, the real estate index up 1.15 per cent and healthcare sub-index up 0.9 per cent.

The smaller Shenzhen index ended up 0.36 per cent and the start-up board ChiNext Composite index was unchanged.

At 07:01 GMT, the yuan was quoted at 6.5035 per US dollar, 0.05 per cent weaker than the previous close of 6.5005.

The largest percentage gainers in the main Shanghai Composite index were China Oilfield Services Ltd up 10.05 per cent.

The largest percentage losses in the Shanghai index were Jiangsu Protruly Vision Technology Group Co Ltd down 5.05 per cent.