INSUBCONTINENT EXCLUSIVE:
SHANGHAI: China stocks posted robust gains on Tuesday, amid hopes that resumption of Sino-US talks could help avert a trade war, while the
impending MSCI inclusion of China shares rekindled interest in blue-chips.
The blue-chip CSI300 index rose 1.2 per cent to 3,878.68, while
the Shanghai Composite Index gained 0.8 per cent to 3,161.50.
The blue-chip CSI300 index was up, with its financial sector sub-index higher
by 1.67 per cent, the consumer staples sector up 1.12 per cent, the real estate index up 2.47 per cent and healthcare sub-index down 0.17
The smaller Shenzhen index ended up 0.77 per cent and the start-up board ChiNext Composite index was higher by 0.25 per cent
Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.55 per cent while Japan's Nikkei index closed up 0.18 per cent
At 07:12 GMT, the yuan was quoted at 6.3637 per dollar, 0.03 per cent weaker than the previous close of 6.3617
The largest per centage gainers in the main Shanghai Composite index were Beijing Aerospace Changfeng Co Ltd up 10.03 per cent, followed by
Kunshan Kersen Science Technology Co Ltd gaining 10.03 per cent and Qingdao Tianhua Institute of Chemistry Engineering Co Ltd up by 10.03
The largest per centage losers in the Shanghai index were Aurora Optoelectronics Co Ltd down 10 per cent, followed by Jiangsu Lugang
Culture Co Ltd losing 9.92 per cent and JDM JingDa Machine Ningbo Co Ltd down by 6.07 per cent
As of 07:13 GMT, China's A-shares were trading at a premium of 23.1 per cent over the Hong Kong-listed H-shares
The Shanghai stock index is below its 50-day moving average and below its 200-day moving average
The price-to-earnings ratio of the Shanghai index was 13.47 as of the last full trading day while the dividend yield was 2.3 per cent.
