China stocks rise on energy, tech sectors

China stocks settled higher on Thursday, led by energy shares as crude oil futures jumped on hopes for a deal to end the price war between Saudi Arabia and Russia, and by tech firms. ** At the close, the Shanghai Composite index was up 1.69% at 2,780.64.

** The blue-chip CSI300 index was up 1.62%, with its financial sector sub-index higher by 0.96%, the consumer staples sector up 1.75%, the real estate index higher 0.84% and the healthcare sub-index up 1.48%. ** The smaller Shenzhen index ended up 2.26% and the start-up board ChiNext Composite index was higher by 2.797%.

** The CSI300 energy index closed up 3.3%, as crude oil futures surged after U.S. President Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon to end their price war and Russian President Vladimir Putin called for a solution to "challenging" oil markets. ** Tech stocks also outperformed, with the CSI IT index surging 4.8%, as investors expected Beijing to further seek tech self-sufficiency.

** The Trump administration is tightening rules to prevent China from obtaining advanced U.S. technology for commercial purposes and then diverting it to military use, several sources told Reuters. ** China reported on Thursday six new coronavirus deaths as of the end of Wednesday, the same number as on Tuesday.

** China's ports and shipping firms are bracing for a second wave of supply chain disruptions that may be deeper and more prolonged than during the country's coronavirus lockdown as the global spread of the virus chokes off international demand. ** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.13%, while Japan's Nikkei index closed down 1.37%.

** At 07:07 GMT, the yuan was quoted at 7.1049 per U.S. dollar, 0.08% weaker than the previous close of 7.099. ** As of 07:08 GMT, China's A-shares were trading at a premium of 27.62% over the Hong Kong-listed H-shares.