China stocks gain as country approves first CAR-T cell therapy

China shares rose on Wednesday, with healthcare stocks leading the gains after the country approved its first CAR-T cell therapy, while investors cheered the Federal Reserve's assurance that the U.S. central bank will not hasten to hike rates.

China shares rose on Wednesday, with healthcare stocks leading the gains after the country approved its first CAR-T cell therapy, while investors cheered the Federal Reserve's assurance that the U.S. central bank will not hasten to hike rates. ** At the midday break, the Shanghai Composite index was up 0.46% at 3,573.61 points, rising for the third consecutive day. China's blue-chip CSI300 index was up 0.77%. ** The financial sector sub-index climbed 0.13%, the consumer staples sector was down 1.24%, while the real estate index added 0.13%. ** Chinese H-shares listed in Hong Kong rose 1.43% to 10,619.02, while the Hang Seng Index was up 1.46% at 28,721.85. ** The smaller Shenzhen index was up 0.81%, the start-up board ChiNext Composite index advanced 1.63%, and Shanghai's tech-focused STAR50 index climbed 1.53%​. ** The largest percentage gainers in the main Shanghai Composite index were Liaoning SG Automotive Group Co Ltd, up 10.1%, followed by Anhui Jianghuai Automobile Group Corp Ltd , gaining 10.05%.

** Shanghai-listed shares of Shanghai Fosun Pharmaceutical Group Co Ltd rose as much as 3.4% after China approved the first CAR-T cell therapy in the country as a joint venture of Fosun Pharmaceutical had obtained the rights to sell the therapy in China. ** Leading the gains, the healthcare sub-index rose 1.11%.

** Lifting investors' risk appetite was Fed chief Jerome Powell's reassurance of the goal of a broad labour market recovery while he also said fear of inflation alone would not be enough to prompt rate rises. ** China's state planner said on Wednesday that it and the market regulator have recently sent teams to various areas to look into commodities prices and supplies and would learn about mid- and downstream companies' situations.

** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.74% while Japan's Nikkei index was up 0.02%. ** The yuan was quoted at 6.4807 per U.S. dollar, 0% firmer than the previous close of 6.481.

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