2020-12-23 13:00:00
CHINA SHARES UP
REUTERS - DECEMBER 23, 2020 - China shares ended higher on Wednesday, buoyed by optimism that policymakers would likely avoid sudden credit policy tightening in 2021 to support an economic recovery from the pandemic-induced slump.
At the close, the Shanghai Composite index was up 0.76% at 3,382.32, while the blue-chip CSI300 index was up 0.85%. The smaller Shenzhen index ended up 0.74%.
The start-up board ChiNext Composite index was higher by 1.11% while Shanghai’s tech-focused STAR50 index was up 1.32%.
Leading the gains, the new energy vehicle sub-index and the CSI300 industrials index rose 2.1% and 2.3%, respectively.
China’s central bank will scale back support for the economy in 2021 and cool credit growth, but fears of derailing a recovery from a pandemic-induced slump and debt defaults are likely to prevent it from tightening any time soon, policy sources said.
China’s state planner said it would launch a nationwide inspection on the repayment risks for enterprise bonds that mature in the near term and in 2021. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 1.05%, while Japan’s Nikkei index closed up 0.33%. ** At 07:20 GMT, the yuan was quoted at 6.537 per U.S. dollar, 0.09% firmer than the previous close of 6.5429.
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Earlier:
2020, December, 14, 12:40:00
CHINA STOCKS UP
The blue-chip CSI300 index rose 0.9% to 4,934.84, while the Shanghai Composite Index added 0.7% to 3,369.12.
2020, November, 30, 11:45:00
CHINA'S STOCKS UPDOWN
The blue-chip CSI300 index fell 0.4%, to 4,960.25, while the Shanghai Composite index slipped 0.5% to 3,391.76, reversing earlier gains as investors booked profits.
