China stocks rally as Middle East conflict fears ease

Guangdong Investment

09/01/2020 07:48

SHANGHAI, Jan 9 (Reuters) - China stocks ended higher on
Thursday, largely erasing losses from the previous session, as
tensions in the Middle East mitigated after remarks from the
United States and Iran. 
    ** The blue-chip CSI300 index  .CSI300  closed 1.3% higher
at 4,164.37, while the Shanghai Composite Index  .SSEC  gained
0.9% to 3,094.88.
    ** U.S. President Donald Trump said on Wednesday the United
States did not have to respond militarily to Iran's attack,
while Iranian Foreign Minister Mohammad Javad Zarif said its
strikes "concluded" Tehran's retaliation.  urn:newsml:reuters.com:*:nL8N29D36B
 urn:newsml:reuters.com:*:nL1N29D050 
    ** Investors also drew optimism from data showing China's
consumer inflation steadied while factory-gate prices fell at a
slower pace in December, giving Beijing room to stay the course
on monetary easing as economic growth cools.  urn:newsml:reuters.com:*:nL4N29E0IY 
    ** Northbound inflows via the Stock Connect continued to be
robust, as foreign investors bought a net of nearly 10 billion
yuan ($1.44 billion) worth of A-shares for the day.  
    ** On trade, China's commerce ministry said Vice Premier Liu
He will sign the Phase 1 trade deal in Washington next week.
 urn:newsml:reuters.com:*:nB9N28201W 
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 1.42%, while Japan's Nikkei index
 .N225  closed up 2.31%.
    ** The yuan  CNY=CFXS  was quoted at 6.9255 per U.S. dollar,
0.29% firmer than the previous close of 6.9456. 
    ** By 0713 GMT, China's A-shares were trading at a premium
of 27.49% over the Hong Kong-listed H-shares.

($1 = 6.9258 Chinese yuan)

 (Reporting by Shanghai Newsroom; editing by Uttaresh.V)
 ((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))