November 21, 2018 / 7:37 AM / 6 months ago

China stocks recover loss in volatile trade after Wall St selloff

SHANGHAI, Nov 21 (Reuters) - China stocks ended Wednesday higher after erasing early losses, as a rebound in property and healthcare stocks offset falls in energy plays following a continued selloff on Wall Street and a plunge in oil prices.

** The blue-chip CSI300 index rose 0.3 percent, to 3,226.49, while the Shanghai Composite Index gained 0.2 percent to 2,651.51 points. ** The blue-chip CSI300 index was up 0.25 percent, with its financial sector sub-index higher by 0.21 percent, the consumer staples sector up 1.18 percent, the real estate index up 1.45 percent and the healthcare sub-index up 1.57 percent. ** The smaller Shenzhen index ended up 0.54 percent and the start-up board ChiNext Composite index was higher by 0.568 percent.

** The rise in property shares comes amid a growing debate over possible stimulus measures to boost growth. A senior central bank researcher said on Tuesday that China should rely more on fiscal policy to support the economy as downward pressure sharply increases.

** “In the near term, A-shares will tend to be volatile and range-bound,” analysts at Xinhu Futures said in a note, highlighting issues including ongoing uncertainty over trade, the forthcoming G20 meeting in Argentina, falling oil prices and the plunge in U.S. tech shares. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.21 percent, while Japan’s Nikkei index closed down 0.35 percent. ** At 07:24 GMT, the yuan was quoted at 6.9416 per U.S. dollar, 0.06 percent firmer than the previous close of 6.9455. (Reporting by Shanghai Newsroom; Editing by Sunil Nair)

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