China’s blue-chip shares end higher on healthcare boost | Reuters
China’s blue-chip share index shed early losses to end higher on Tuesday, helped by a boost from healthcare and consumer staples, though weak performances in industrials weighed after data showed a slowing pace of profit growth in the sector. ** At the close, the blue-chip CSI300 index was up 0.26%, while the Shanghai Composite index ended 0.04% higher at 3,442.61. ** Healthcare firms led gains as overseas coronavirus infections surged, with a sub-index tracking the sector up 2.48% on the day. The consumer staples sector gained 0.91% and the real estate index rose 0.38%. ** But the CSI300 industrials sub-index fell 1.43% after new data showed slowing profit growth in the sector. ** Profit at China’s industrial firms grew sharply in March from a low base a year earlier, as demand for raw materials surged along with the economic recovery, though the pace of growth has slowed, official data showed on Tuesday.
** The smaller Shenzhen index ended unchanged for the day and the start-up board ChiNext Composite index was 0.56% higher. ** Around the region, MSCI’s Asia ex-Japan stock index was 0.02% weaker, while Japan’s Nikkei index closed down 0.46%. ** At 0712 GMT, the yuan was quoted at 6.4838 per U.S. dollar, 0.04% firmer than the previous close of 6.4865. ** So far this year, the Shanghai stock index slipped 0.9% and the CSI300 has fallen 2.3%, while China’s H-share index listed in Hong Kong rose 2.2%. Shanghai stocks have risen 0.02% this month. ** As of 0713 GMT, China’s A-shares were trading at a premium of 34.12% over the Hong Kong-listed H-shares. (Reporting by Andrew Galbraith, Editing by Sherry Jacob-Phillips)