China stocks inch higher on healthcare boost

China Taiping Insurance Holdings

23/09/2020 05:55

SHANGHAI, Sept 23 (Reuters) - China stocks inched higher on
Wednesday, led by gains in healthcare shares after the state
planner said the country will accelerate development of
vaccines. 
    
** At the midday break, the Shanghai Composite index  .SSEC  was
up 0.02% at 3,275.09. China's blue-chip CSI300 index  .CSI300 
was up 0.13%. Healthcare shares led gains in the broader market,
with its sub-index  .CSI300HC  jumping 3.65%. 
        
** The National Development and Reform Commission (NDRC) said on
Wednesday China will speed up development of vaccine innovation,
diagnostic, testing reagents and antibody drugs.  urn:newsml:reuters.com:*:nB9N2BK05D
    
** Meanwhile, U.S. President Donald Trump told the United
Nations General Assembly China must be held accountable for
having "unleashed" COVID-19 on the world. Beijing accused him of
"lies" and abusing the U.N. platform to provoke confrontation.
    
** Major Chinese liquor makers fell more than the broader
market, as authorities showed concerns over continued price
hikes in high-end liquor products that could stoke resurgence of
recreational activities using public funds. Kweichow Moutai Co
Ltd  600519.SS  fell as much as 2.7% in morning trade.
    
** Chinese H-shares listed in Hong Kong  .HSCE  fell 0.16% to
9,561.75, while the Hang Seng Index  .HSI  was down 0.01% at
23,713.97. 

** In Hong Kong, the sub-index of the Hang Seng index tracking
energy shares  .HSCIE  dipped 0.9% while the IT sector  .HSCIIT 
rose 0.9%.
    
** The smaller Shenzhen index  .SZSC  was up 0.5%, the start-up
board ChiNext Composite index  .CNT  was higher by 1.47% and
Shanghai's tech-focused STAR50 index  .STAR50  was up 2.63%​.
    
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 1.01% and Japan's Nikkei index
 .N225  was down 0.39%.
    
** The yuan  CNY=CFXS  was quoted at 6.7948 per U.S. dollar,
0.19% weaker than the previous close of 6.7818. 
    

 (Reporting by Winni Zhou and Andrew Galbraith; editing by
Uttaresh.V)
 ((winni.zhou@thomsonreuters.com; +86 21 2083 0100; Reuters
Messaging: winni.zhou.thomsonreuters.com@reuters.net))