January 8, 2018 / 7:18 AM / 5 months ago

China stocks end at 6-week high, developers lend support

SHANGHAI, Jan 8 (Reuters) - China’s main share indexes rose on Monday, climbing for a seventh straight session and boosted by robust gains for real estate firms as major developers reported stellar 2017 sales. The indexes closed at their highest in six weeks. ** At the close, the Shanghai Composite index was up 18.25 points or 0.54 percent at 3,410.00. ** The blue-chip CSI300 index was up 0.52 percent, with its financial sector sub-index higher by 0.47 percent, the consumer staples sector up 1.12 percent, the real estate index up 3.33 percent and healthcare sub-index up 0.58 percent. ** The smaller Shenzhen index ended up 0.22 percent and the start-up board ChiNext Composite index was higher by 0.26 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.34 percent. ** At 07:02 GMT, the yuan was quoted at 6.4874 per U.S. dollar, 0.02 percent firmer than the previous close of 6.4887. ** The largest percentage gainers in the main Shanghai Composite index were Zhejiang XinAn Chemical Industrial Group Co Ltd up 10.04 percent, followed by Easysight Supply Chain Management Co Ltd gaining 10.03 percent and Shanghai Shimao Co Ltd up by 10.02 percent. ** The largest percentage losses in the Shanghai index were Cultural Investment Holdings Co Ltd down 10.01 percent, followed by Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd losing 7.19 percent and BTG Hotels Group Co Ltd down by 5.86 percent. ** So far this year, the Shanghai stock index is up 2.56 percent, the CSI300 is up 3.2 percent this year, while China’s H-share index listed in Hong Kong is up 4.3 percent. Shanghai stocks have risen 2.56 percent this month. ** About 23.62 billion shares were traded on the Shanghai exchange, roughly 154.6 percent of the market’s 30-day moving average of 15.27 billion shares a day. The volume in the previous trading session was 21.31 billion. ** As of 07:03 GMT, China’s A-shares were trading at a premium of 27.81 percent over the Hong Kong-listed H-shares. ** The Shanghai stock index is above its 50-day moving average and above its 200-day moving average. (Reporting by Shanghai Newsroom; Editing by Sam Holmes)

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