January 4, 2018 / 7:16 AM / in 3 months

China stocks rise for 5th day on robust services sector activity

SHANGHAI, Jan 4 (Reuters) - China stocks extended gains on Thursday, up for the fifth session in a row, aided by data showing Chinese services sector activity grew at its best pace in more than three years in December. ** China’s services sector activity expanded in December on solid growth in new business, with the outlook improving to a six-month high, a private sector survey showed on Thursday.

** At the close, the Shanghai Composite index was up 17.40 points or 0.52 percent at 3,386.50. ** The blue-chip CSI300 index was up 0.44 percent, with its financial sector sub-index lower by 0.09 percent , the consumer staples sector up 2.71 percent, the real estate index up 1.15 percent and healthcare sub-index up 0.9 percent. ** The smaller Shenzhen index ended up 0.36 percent and the start-up board ChiNext Composite index was unchanged. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.30 percent while Japan’s Nikkei index closed up 3.26 percent. ** At 07:01 GMT, the yuan was quoted at 6.5035 per U.S. dollar, 0.05 percent weaker than the previous close of 6.5005. ** The largest percentage gainers in the main Shanghai Composite index were China Oilfield Services Ltd up 10.05 percent, followed by CTS International Logistics Corp Ltd gaining 10.05 percent and Baotou Huazi Industry Co Ltd up by 10.05 percent. ** The largest percentage losses in the Shanghai index were Jiangsu Protruly Vision Technology Group Co Ltd down 5.05 percent, followed by BOCO Inter-Telecom Co Ltd losing 5.02 percent and Wenyi Suntech Co Ltd down by 4.56 percent. ** About 20.70 billion shares were traded on the Shanghai exchange, roughly 135.2 percent of the market’s 30-day moving average of 15.30 billion shares a day. The volume in the previous trading session was 21.38 billion. ** As of 07:02 GMT, China’s A-shares were trading at a premium of 27.19 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 15.16 as of the last full trading day while the dividend yield was 1.9 percent. ** So far this week, the market capitalisation of the Shanghai stock index has risen by 2.03 percent to 29.49 trillion yuan. (Reporting by Shanghai Newsroom; Editing by Jacqueline Wong)

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