China stocks led higher by consumer staples, healthcare

Chinese shares closed higher on Friday ahead of the mid-autumn festival holiday, with consumer staples and healthcare stocks leading the gains. ** Consumer staples rose 2.3% ahead of the mid-autumn festival holiday, during which analysts expect consumption to rise. ** The healthcare sub-index jumped 3.6%.

Chinese shares closed higher on Friday ahead of the mid-autumn festival holiday, with consumer staples and healthcare stocks leading the gains. The blue-chip CSI300 index rose 1.0%, to 4,855.94, while the Shanghai Composite Index gained 0.2% to 3,613.97 points.

** For the week, the CSI300 finished down 3.1%, while the Shanghai Composite Index dropped 2.4%, the biggest weekly decline for both since Aug 20. ** Consumer staples rose 2.3% ahead of the mid-autumn festival holiday, during which analysts expect consumption to rise.

** The healthcare sub-index jumped 3.6%. Shanxi Securities expects this sector will continue to rebound. ** A sub-index tracking coal stocks plunged 6.2%, their biggest daily decline since February 2020.

** China's leading coal industry associations called on top miners on Thursday to ensure thermal coal supplies to help stabilize surging prices, at a time when the environment ministry said China plans to include more cities in its 2021 winter air pollution campaign. ** Investors bought the dips in the battered real estate sector, which rebounded 2% after falling for three straight sessions on China Evergrande's debt crisis.

** Goldman Sachs and JPMorgan warned Evergrande's crisis could pose spillover risks to the broader Chinese property sector.