China stocks inch higher on healthcare boost

China stocks inched higher on Wednesday, led by gains in healthcare shares after the state planner said the country will accelerate development of vaccines. Healthcare shares led gains in the broader market, with its sub-index jumping 3.65%. ** The National Development and Reform Commission (NDRC) said on Wednesday China will speed up development of vaccine innovation, diagnostic, testing reagents and antibody drugs.

China stocks inched higher on Wednesday, led by gains in healthcare shares after the state planner said the country will accelerate development of vaccines. ** At the midday break, the Shanghai Composite index was up 0.02% at 3,275.09. China's blue-chip CSI300 index was up 0.13%. Healthcare shares led gains in the broader market, with its sub-index jumping 3.65%.

** The National Development and Reform Commission (NDRC) said on Wednesday China will speed up development of vaccine innovation, diagnostic, testing reagents and antibody drugs. ** Meanwhile, U.S. President Donald Trump told the United Nations General Assembly China must be held accountable for having "unleashed" COVID-19 on the world. Beijing accused him of "lies" and abusing the U.N. platform to provoke confrontation.

** Major Chinese liquor makers fell more than the broader market, as authorities showed concerns over continued price hikes in high-end liquor products that could stoke resurgence of recreational activities using public funds. Kweichow Moutai Co Ltd fell as much as 2.7% in morning trade. ** Chinese H-shares listed in Hong Kong fell 0.16% to 9,561.75, while the Hang Seng Index was down 0.01% at 23,713.97. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares dipped 0.9% while the IT sector rose 0.9%.

** The smaller Shenzhen index was up 0.5%, the start-up board ChiNext Composite index was higher by 1.47% and Shanghai's tech-focused STAR50 index was up 2.63%​. ** Around the region, MSCI's Asia ex-Japan stock index was weaker by 1.01% and Japan's Nikkei index was down 0.39%.

** The yuan was quoted at 6.7948 per U.S. dollar, 0.19% weaker than the previous close of 6.7818.