China stocks firm as fresh stimulus hopes lift risk appetite

China stocks on Wednesday started the second quarter of the year on a firm note, as investors expected more stimulus measures to counter the economic impact from the coronavirus pandemic.

** At the midday break, the Shanghai Composite index was up 0.3% at 2,758.66 points. ** China's blue-chip CSI300 index rose 0.69%, with its financial sector sub-index higher by 0.88%, the consumer staples sector down 0.11%, the real estate index climbed 1.92% and the healthcare sub-index down 0.69%.

** Chinese H-shares listed in Hong Kong dipped 0.29% to 9,567.19, while the Hang Seng Index was down 0.92% at 23,385.41. ** China will step up fiscal and monetary policy adjustments to combat the impact of the global coronavirus outbreak, state media reported on Tuesday, quoting a cabinet meeting chaired by Premier Li Keqiang.

** Fresh measures by Beijing on infrastructure funding, targeted credit for SMEs, and EV subsidies echoed the view that the Politburo meeting on Friday has given a green light to more policy responses, both fiscal firepower, and monetary policy tools, analysts at Morgan Stanley said in a report. ** China's factory activity improved in March after plunging a month earlier, a private survey showed on Wednesday, but the bare minimal growth highlighted the intense pressure facing businesses as the global coronavirus pandemic shuts down many countries.

** China will start releasing information from Wednesday on coronavirus patients who show no-disease symptoms, ordering them into quarantine for 14 days, a health official said, after the mainland witnessed its first rise in infections in five days. ** Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.06%, while Japan's Nikkei index was down 1.75%.

** The yuan was quoted at 7.0886 per U.S. dollar, 0.11% weaker than the previous close of 7.081. ** As of 0414 GMT, China's A-shares were trading at a premium of 26.18% over the Hong Kong-listed H-shares.

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