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China stocks end higher as consumer sector lends support, U.S. tensions cap gains

Mon 25th May, 2020 8:39am
SHANGHAI, May 25 (Reuters) - China stocks closed higher on
Monday, lifted by gains in consumer companies, though their rise
was capped by simmering Sino-U.S. tensions. 
    ** The Shanghai Composite index  .SSEC  rose 0.15% to
2,817.97.
    ** The blue-chip CSI300 index  .CSI300  was up 0.14%, while
its financial sector sub-index  .CSI300FS  fell 0.01%, the
consumer staples sector  .CSI000912  gained 2.19%, the real
estate index  .CSI000952  rose 1.56% and the healthcare
sub-index  .CSI300HC  added 1.31%.
    ** The smaller Shenzhen index  .SZSC  ended down 0.09% and
the start-up board ChiNext Composite index  .CNT  was higher by
0.279%. 
    ** Sectors related to domestic demand would benefit as China
will boost domestic demand to ensure jobs this year amid the
coronavirus outbreak, analysts at Sinolink Securities noted in
report. 
    ** Gains were capped by rising Sino-U.S. tensions, with the
Chinese government's top diplomat Wang Yi saying on Sunday that
the United States should stop wasting time in its fight against
the coronavirus and work with China to combat it, rather than
spread lies and attack the country, the .  urn:newsml:reuters.com:*:nL4N2D604O 
    ** Sino-U.S. ties have nosedived since the outbreak of the
new coronavirus, with the administrations of President Donald
Trump and President Xi Jinping repeatedly trading barbs over
issues related to the pandemic, especially U.S. accusations of
cover-ups and lack of transparency.  
    ** The United States said on Friday it would add 33 Chinese
firms and institutions to an economic blacklist for helping
Beijing spy on its minority Uighur population or because of ties
to weapons of mass destruction and China's military.
 urn:newsml:reuters.com:*:nL1N2D41U3 
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  firmed up 0.47%, while Japan's Nikkei index
 .N225  closed 1.73% higher.
    ** At 07:08 GMT, the yuan  CNY=CFXS  was quoted at 7.1379
per U.S. dollar, 0.1% weaker than the previous close of 7.131. 
    ** As of 07:08 GMT, China's A-shares were trading at a
premium of 27.08% over the Hong Kong-listed H-shares.

 (Reporting by Shanghai Newsroom;
Editing by Vinay Dwivedi)
 ((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))
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