China stocks end higher on stimulus measures

Want Want China Holdings

26/12/2019 07:45

SHANGHAI, Dec 26 (Reuters) - China shares closed higher on
Thursday after Beijing laid out plans to bolster its economy,
which included investments in infrastructure and easing of
residency curbs. 
    ** The blue-chip CSI300 index  .CSI300  rose 0.9% to
4,025.99, while the Shanghai Composite Index  .SSEC  closed up
0.9% at 3,007.35.   
    ** China plans 800 billion yuan ($114.32 billion) in railway
investment, 1.8 trillion yuan in highway and waterway investment
and 90 billion yuan in civil aviation investment in 2020, state
radio said, citing Minister of Transport Li Xiaopeng.
 urn:newsml:reuters.com:*:nB9N28L01G  
    ** The CSI300 infrastructure index jumped 0.9%  .CSI000950 
following the news. 
    ** Real estate index  .CSI000952  rallied 2.9% and was the
top gainer among all sectors. 
    ** China scrapped restrictions on household registration
permits for cities under 3 million population, and
comprehensively loosened such curbs for cities of 3 million to 5
million residents, according to a document issued by the
cabinet.
    ** In April, China said it would relax residency curbs in
many of its smaller cities this year and increase infrastructure
spending.  urn:newsml:reuters.com:*:nL3N21Q0QJ 
    ** Easing norms for urban residency will promote
urbanisation and boost housing demand, Huachuang Securities
analyst Yuan Haos said in a report. 
    ** On the trade front, China on Wednesday said both sides'
economic and trade teams were in close communication about
detailed arrangements for the phase one deal's signing and other
follow-up work.  urn:newsml:reuters.com:*:nL1N28Y0A0 
    ** Around the region, Japan's Nikkei index  .N225  was up
0.60%.
    ** The yuan  CNY=CFXS  was quoted at 6.9994 per U.S. dollar,
0.15% weaker than the previous close of 6.989. 
    ** By 0711 GMT, China's A-shares were trading at a premium
of 26.78% over the Hong Kong-listed H-shares.
    

($1 = 6.9979 Chinese yuan)    

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