China stocks track Asian markets higher

Xinyi Glass Holdings

18/04/2024 09:58

(Updates to market closing levels)
       SHANGHAI, April 18 (Reuters) - China stocks tracked
other Asian markets higher on Thursday, as investors assessed
U.S. interest rate outlook, with banking shares leading the
gains.
     Asian stocks made their biggest gains in a month on
Thursday, while the dollar took a breather and bond markets
steadied. Oil found support following its sharpest fall in
two-and-a-half months on demand worries and the lack, so far, of
an obvious Israeli or U.S. response to Iran's weekend attack on
Israel.
    ** At the close, the Shanghai Composite index  .SSEC  was up
0.09% at 3,074.22.
    ** The blue-chip CSI300 index  .CSI300  was up 0.12%, with
its financial sector sub-index  .CSI300FS  higher by 1.08%, the
consumer staples sector  .CSI000912  up 0.45%, the real estate
index  .CSI000952  down 0.74% and the healthcare sub-index
 .CSI300HC  down 1.05%.
    ** The smaller Shenzhen index  .SZSC  ended down 0.11% and
the start-up board ChiNext Composite index  .CNT  was weaker by
0.547%.
    ** However, investors are still wary about geopolitical
tensions, as President Joe Biden on Wednesday called for sharply
higher U.S. tariffs on Chinese metal products as part of a
package of policies aimed at pleasing steelworkers in the swing
state of Pennsylvania, at the risk of angering Beijing. 
    ** The Hang Seng index  .HSI  was up 134.03 points or 0.82%
at 16,385.87. The Hang Seng China Enterprises index  .HSCE  rose
0.94% to 5,803.86.
    ** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  dipped 0.9%, while the IT sector  .HSCIIT  rose 0.55%,
the financial sector  .HSNF  ended 1.78% higher and the property
sector rose 0.34%.   
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.84%, while Japan's Nikkei index
 .N225  closed up 0.31%.
    ** The largest percentage gainers in the main Shanghai
Composite index were Traffic Control Technology Co Ltd
 688015.SS , up 20%, followed by Sinocelltech Group Ltd
 688520.SS , gaining 14.82%, and Eyebright Medical Technology
Beijing Co Ltd  688050.SS , up by 10.46%.
    ** The top gainer on the Hang Seng was Shenzhou
International Group Holdings Ltd  2313.HK , which gained 5.09%,
while the biggest loser was Xinyi Glass Holdings Ltd  0868.HK ,
which fell 4.37%.
    

 (Reporting by Shanghai Newsroom; Editing by Rashmi Aich and
Mrigank Dhaniwala)
 ((Jason.Xue@thomsonreuters.com;))