January 24, 2018 / 7:18 AM / 7 months ago

China stocks end at fresh 2-year highs, start-up firms jump

* Shanghai stocks higher, blue-chip CSI300 index up

* Gains in Shanghai stocks led by Shandong Lukang Pharmaceutical Co Ltd and losses by Tibet Tourism Co Ltd

* China’s A-shares are at a 28.14 percent premium over H-shares

SHANGHAI, Jan 24 (Reuters) - China stocks extended their climb on Wednesday, with the main indexes reaching new two-year peaks and one for start-up firms having its best day in five months. ** At the close, the Shanghai Composite index was up 14.23 points or 0.4 percent at 3,560.73. ** The blue-chip CSI300 index was up 0.19 percent, with its financial sector sub-index higher by 0.44 percent, the consumer staples sector down 1.46 percent, the real estate index down 0.29 percent and healthcare sub-index up 0.62 percent. ** The smaller Shenzhen index ended up 0.51 percent and the start-up board ChiNext Composite index was higher by 2.57 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.06 percent while Japan’s Nikkei index closed down 0.76 percent. ** At 07:02 GMT, the yuan was quoted at 6.3942 per U.S. dollar, 0.22 percent firmer than the previous close of 6.4084. ** The largest percentage gainers in the main Shanghai Composite index were Shandong Lukang Pharmaceutical Co Ltd up 8.66 percent, followed by CITIC Securities Co Ltd gaining 8.11 percent and Shanghai Baosight Software Co Ltd up by 7.77 percent. ** The largest percentage losses in the Shanghai index were Tibet Tourism Co Ltd down 5.91 percent, followed by Fujian Longking Co Ltd losing 5.37 percent and Jiangsu Protruly Vision Technology Group Co Ltd down by 5.06 percent. ** So far this year, the Shanghai stock index is up 7.24 percent, the CSI300 is up 8.9 percent, while China’s H-share index listed in Hong Kong is up 15.2 percent. ** About 25.30 billion shares were traded on the Shanghai exchange, roughly 142.0 percent of the market’s 30-day moving average of 17.82 billion shares a day. The volume in the previous trading session was 23.87 billion. ** As of 07:03 GMT, China’s A-shares were trading at a premium of 28.14 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. ** The price-to-earnings ratio of the Shanghai index was 16.14 as of the last full trading day while the dividend yield was 1.8 percent. ** So far this week, the market capitalisation of the Shanghai stock index has risen by 1.87 percent to 31.21 trillion yuan. (Reporting by Shanghai Newsroom; Editing by Richard Borsuk)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below