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China stocks rise as Middle East worries recede; energy sector underperforms


China stocks rise as Middle East worries recede; energy sector underperforms
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Chinese shares rose on Tuesday from a late slump in the previous session as concerns over tensions in the Middle East eased, with investor focus returning to policy support and a much-awaited Phase 1 trade deal with the United States. ** At the midday break, the Shanghai Composite index was up 0.36% at 3,094.44 points. ** China's blue-chip CSI300 index was up 0.45%, with its financial sector sub-index higher by 0.35%, the consumer staples sector up 2.09%, the real estate index up 0.23% and the healthcare sub-index up 1%. ** Energy shares underperformed after gaining the previous day on higher oil prices. The CSI300 energy index dropped 0.82% and the Hang Seng energy sub-index fell 0.61%. ** China's Banking and Insurance Regulatory Commission said last week that it would promote the conversion of household savings into long-term funds in China's capital markets. Analysts expect the move to offer long-term support for markets. ** Chinese H-shares listed in Hong Kong rose 0.58% to 11,230.72, while the Hang Seng Index was up 0.5% at 28,367.18. ** The smaller Shenzhen index was up 0.79% and the start-up board ChiNext Composite index gained 1.18%. ** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.72%, while Japan's Nikkei index added 1.34%. ** The yuan was quoted at 6.9545 per U.S. dollar, 0.33% firmer than the previous close of 6.9768. It earlier touched a top of 6.9522 per dollar, its strongest level since Aug. 2, 2018. ** The largest percentage gainers in the main Shanghai Composite index were Zhejiang Guangsha Co Ltd, up 10.07%, followed by Zhejiang Furun Co Ltd, gaining 10.05% and Fortune Ng Fung Food Hebei Co Ltd, up by 10.03%. ** The largest percentage losses in the Shanghai index were Shandong Huifa Foodstuff Co Ltd, down 10.01%, followed by GigaDevice Semiconductor Beijing Inc, losing 5.26% and Beihai Gofar Marine Biological Industry Co Ltd , down by 5.14%. ** The top gainers among H-shares were ANTA Sports Products Ltd , up 6.04%, followed by CSPC Pharmaceutical Group Ltd , gaining 2.6% and Longfor Group Holdings Ltd , up by 2.36%. ** The three biggest H-shares percentage decliners were PetroChina Co Ltd, down 1.19%, CNOOC Ltd, 1.02% lower and Anhui Conch Cement Co Ltd, which shed 0.78%. ** In Hong Kong, a sub-index tracking the IT sector rose 1.2%. The top gainer on the Hang Seng was CSPC Pharmaceutical Group Ltd, up 2.6%, while the biggest loser was PetroChina Co Ltd, which was down 1.19%.

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

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