2021-03-18 12:20:00
CHINA INDEXES UP AGAIN
REUTERS - MARCH 18, 2021 - China stocks rose on Thursday, driven by gains in consumer and healthcare firms, after the U.S. Federal Reserve pledged to maintain an accommodative monetary policy and projected a rapid jump in U.S. economic growth this year.
The blue-chip CSI300 index rose 0.8%, to 5,141.77, while the Shanghai Composite Index gained 0.5% to 3,463.07.
Leading the gains, the CSI300 consumer staples index added 2%, while the CSI300 healthcare index closed 2.3% higher.
Both sub-indexes posted their third straight day of gains.
Sentiment picked up after the U.S. Fed tamed inflation fears that had hurt growth-oriented stocks with high valuations.
The U.S. economy is heading for its strongest growth in nearly 40 years, the Federal Reserve said on Wednesday, and central bank policymakers are pledging to keep their foot on the gas despite an expected surge of inflation.
Liquidity tightening is almost certain to happen as the economy recovers, leading to an inescapable correction in equities, Guosen Securities noted in a report, referring to the recent sharp fall in the A-share market.
But it’s still too early to call an end to the bull run, the brokerage added.
Around the region, MSCI’s Asia ex-Japan stock index was firmer by 1.04%, while Japan’s Nikkei index closed up 1.01%.
At 07:11 GMT, the yuan was quoted at 6.4933 per U.S. dollar, 0.18% firmer than the previous close of 6.5052.
As of 07:12 GMT, China’s A-shares were trading at a premium of 33.44% over the Hong Kong-listed H-shares.
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Earlier:
2021, March, 15, 10:40:00
CHINA INDEXES DOWN
The CSI300 index fell 1.7% to 5,061.66 points at the end of the morning session, while the Shanghai Composite Index lost 0.6%, to 3,432.01 points.
2021, March, 10, 12:15:00
CHINA'S NUCLEAR COAL
China announced its aim to increase its nuclear power capacity by 40% from 50 GW in 2020 to 70 GW in 2025. However, the 2021-2025 plan isn't expected to slow down the construction of new coal-fired power plants.
2021, March, 10, 12:05:00
CHINA INDEXES UPDOWN
The blue-chip CSI300 index ended 0.66% higher, led by a 2.63% jump in its healthcare sub-index and a 1.94% gain in the consumer staples sector.
2021, March, 9, 12:45:00
CHINA NEED NUCLEAR POWER
China said in its 2021-2025 five-year plan released on Friday that it would raise total nuclear capacity to 70 gigawatts (GW) by the end of 2025.
2021, March, 3, 12:40:00
CHINA INDEXES UP
Shares on Shanghai's Composite Index climbed 1.6% ahead of Friday's annual parliamentary gathering
2021, February, 26, 11:40:00
CHINA INDEXES DOWN
The blue-chip CSI300 index fell 2.4% to 5,336.76, while the Shanghai Composite Index dropped 2.1% to 3,509.08 points.
