China stocks close higher on stimulus hopes for smaller firms

Want Want China Holdings

24/12/2019 07:35

SHANGHAI, Dec 24 (Reuters) - China stocks ended higher on
Tuesday on hopes that Beijing will roll out more measures to
bolster the real economy. 
    ** The blue-chip CSI300 index  .CSI300  closed up 0.7% at
3,992.96, while the Shanghai Composite Index  .SSEC  gained 0.7%
to 2,982.68.   
    ** Chinese Premier Li Keqiang said on Monday the government
will study taking more measures to lower financing costs for
smaller companies, including broad-based and "targeted" cuts in
the reserve requirement ratio (RRR), relending and
rediscounting.  urn:newsml:reuters.com:*:nB9N28L00V 
    ** Chinese government bond futures edged up in early trade
on Tuesday following the Premier's remarks.  urn:newsml:reuters.com:*:nB9N28D043  
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  fell 0.13%, while Japan's Nikkei index  .N225 
inched up 0.04%.
    ** The yuan  CNY=CFXS  was quoted at 7.0113 per U.S. dollar,
0.02% firmer than the previous close of 7.0125. 
    ** The largest percentage gainers on the main Shanghai
Composite index were Huayi Electric Co Ltd  600290.SS , up
10.09%, followed by Shanghai Fudan Forward S&T Co Ltd
 600624.SS , gaining 10.06% and Guirenniao Co Ltd  603555.SS ,
up by 10.04%.
    ** The largest percentage losers on the Shanghai index were
ChongQing Zhengchuan Pharmaceutical Packaging Co Ltd
 603976.SS , down 10%, followed by Lushang Health Industry
Development Co Ltd  600223.SS , losing 6.4% and Changshu Fengfan
Power Equipment Co Ltd  601700.SS , down by 5.87%.
    ** So far this year, the Shanghai stock index has gained
19.6%, while China's H-share index has risen 7.8%. 
    ** By 0706 GMT, China's A-shares were trading at a premium
of 25.58% over Hong Kong-listed H-shares.

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