Shanghai stocks edge higher as non-ferrous metals firms gain

Shanghai shares rose slightly on Wednesday, led by non-ferrous metal stocks and high-end equipment manufacturers, while tech giants slipped in Hong Kong ahead of third-quarter earnings reports and dragged the benchmark equity index lower.


Reuters | Shanghai | Updated: 17-11-2021 10:35 IST | Created: 17-11-2021 10:34 IST
Shanghai stocks edge higher as non-ferrous metals firms gain
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Shanghai shares rose slightly on Wednesday, led by non-ferrous metal stocks and high-end equipment manufacturers, while tech giants slipped in Hong Kong ahead of third-quarter earnings reports and dragged the benchmark equity index lower. The Shanghai Composite Index gained 0.2% to 3,529.26, while the CSI300 index fell 0.1% to 4,879.75 by the end of the morning session.

The Hang Seng index dropped 0.5% to 25,595.19. The Hong Kong China Enterprises Index lost 0.6% to 9,174.13. ** The non-ferrous metal sub-index and the high-end equipment manufacturing sub-index gained more than 1.9% each.

** New energy vehicles added 1.5%, tracking a rebound in Tesla Inc, analysts said. ** Twenty five out of the first batch of 81 companies went up on the new Beijing Stock Exchange.

** Shares have been trading sideways recently, and Vanho Securities said it expected the market might remain range-bound in the near future with investors searching for directional clues. ** It said policy easing expectations would rise as the year came to an end, and suggested to buy blue-chips.

** Tech giants and financials weighed on the Hong Kong market. ** The Hang Seng Tech Index lost 0.6%, with food delivery company Meituan and e-commerce giant Alibaba Group down 1.6% and 0.6%, respectively.

** Alibaba is expected to report its earning results on Thursday. ** The financials sub-index retreated 0.7%, with insurer AIA down 1.1% and dragging the Hang Seng Index 21 points lower.

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

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