China stocks up as property, energy firms gain on policy support signals

JD Logistics

27/12/2021 04:58

* SSEC +0.15%, CSI300 +0.03%
    * PBOC vows to promote healthy development of real estate
sector
    * China reports slower industrial profit growth in November

    SHANGHAI, Dec 27 (Reuters) - China stocks rose on Monday,
with energy and real estate developers leading gains on
expectations of more monetary easing after the central bank
vowed to promote healthy development of the country's real
estate market. 
** At the midday break, the Shanghai Composite index  .SSEC  was
up 0.15% at 3,623.58 points while China's blue-chip CSI300 index
 .CSI300  was up 0.03%.
    
** Leading the gains, the real estate index  .CSI000952  added
1.01% while the energy sector  .CSIEN  gained 1.04%.
    
** China's central bank said it will safeguard the legal rights
of home buyers and better satisfy their reasonable living needs,
while the nation's top real estate regulator vowed to resolutely
tackle risks stemming from overdue delivery of residential
properties by some top developers.  urn:newsml:reuters.com:*:nL1N2TB03J urn:newsml:reuters.com:*:nL1N2TA03R     
       
 
** The smaller Shenzhen index  .SZSC  was up 0.31%, the start-up
board ChiNext Composite index  .CNT  was unchanged and
Shanghai's tech-focused STAR50 index  .STAR50  was unchanged for
the day​.
** China's local symptomatic coronavirus cases crept up again,
after it reported the highest daily rise in local infections in
21 months over the weekend, with most new infections reported in
the northwestern city of Xian as it entered a fifth day of a
lockdown.  urn:newsml:reuters.com:*:nL1N2TC014

** The country's statistics bureau also said on Monday that 
profits at China's industrial firms grew at a slower pace in
November.  urn:newsml:reuters.com:*:nB9N2SO00K  
    
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.03% while Japan's Nikkei index
 .N225  was down 0.21%.
 
** The yuan  CNY=CFXS  was quoted at 6.3702 per U.S. dollar,
0.05% weaker than the previous close of 6.3672. 
 

 (Reporting by Shanghai Newsroom; Editing by Devika Syamnath)
 ((zoey.zhang@thomsonreuters.com))