China shares flat as investors await policy signs

Mainland shares were nearly flat on Wednesday as investors awaited key politburo meeting for policy deliberations, shrugging off strong company earnings as economy recovered from the pandemic. ** At the midday break, the Shanghai Composite index was down 0.04% at 3,441.10, while the blue-chip CSI300 index inched up 0.04% to 5090.52.

Mainland shares were nearly flat on Wednesday as investors awaited key politburo meeting for policy deliberations, shrugging off strong company earnings as economy recovered from the pandemic.

** At the midday break, the Shanghai Composite index was down 0.04% at 3,441.10, while the blue-chip CSI300 index inched up 0.04% to 5090.52. ** Leading the gains, the sub-index of new energy vehicles gained 1.9% while the energy sector rose 1.4%.

** The financial sector sub-index was down 0.24% while the consumer staples sector fell 0.76%. ** Chinese H-shares listed in Hong Kong rose 0.01% to 10,984.95, while the Hang Seng Index was up 0.13% at 28,978.49. ** The smaller Shenzhen index was up 0.49%, the start-up board ChiNext Composite index was higher by 1.83% and Shanghai's tech-focused STAR50 index was up 0.63%.

** Shares in Contemporary Amperex Technology Co Ltd, the world's biggest battery maker for new energy vehicles, climbed as much as 7.6% in the morning after reporting a 22% jump in its 2020 net profit. ** Hong Kong shares of restaurant group Yum China Holdings Inc rose to their highest since Feb. 18 after reporting better than expected revenue for the first quarter.

** China is set to report its first population decline since 1949, the Financial Times reported on Tuesday, complicating the challenges faced by policymakers to ensure the country's long-term economic growth. ** Investors are expecting a politburo meeting, the top decision-making body of China's ruling Communist Party, to happen sometime later this week for comments and guidance on policy deliberations. ** Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.16% while Japan's Nikkei index was up 0.35%.

** The yuan was quoted at 6.4862 per U.S. dollar, 0.05% weaker than the previous close of 6.483.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)