China stocks rise as easing COVID curbs lift sentiment

Chinese equities gained on Tuesday as Beijing further eased COVID-19 curbs and raised hopes of a revival in consumption, while a report on China concluding a cybersecurity probe also lifted investor sentiment.

Chinese equities gained on Tuesday as Beijing further eased COVID-19 curbs and raised hopes of a revival in consumption, while a report on China concluding a cybersecurity probe also lifted investor sentiment. The CSI300 index rose 0.7% to 4,193.15 by the end of the morning session, while the Shanghai Composite Index gained 0.5% to 3,252.00.

The Hang Seng index dropped 0.1% to 21,628.37. The Hong Kong China Enterprises Index was unchanged at 7,501.21. ** In the latest sign of easing curbs in the capital Beijing, the Universal Beijing Resort said it would reopen on June 15 after being closed for more than a month to comply with China's COVID-19 prevention measures.

** Investors' focus will shift to fundamentals and the market is expected to see range-bound performance after a recent rebound, said analysts at Bosera Asset Management Co. ** The CSI 300 index has risen more than 10% since hitting its trough on April 26.

** Consumer staples and healthcare stocks gained 2% each on Tuesday, while banks and real estate developers both edged up more than 1%. ** Liquor makers jumped 2.5% on hopes that an easing of COVID-19 curbs will lead to a recovery in consumption, with index heavyweight Kweichow Moutai Co Ltd up 2%.

** Meanwhile, semiconductors, and automobiles lost 1.6% and 1.9%, respectively. Both sectors had led gains in the recent rebound. ** In the latest signal that China's promises to ease pressure on its internet sector may be gaining traction, regulators are concluding probes into ride-hailing giant Didi Global Inc and two other firms and are preparing to allow their apps back on domestic app stores as early as this week, the Wall Street Journal reported on Monday.

** Hong Kong's Hang Seng tech index inched up 0.5%, adding to the previous session's 4.6% surge, with e-commerce giant Alibaba Group up 3.7%.

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