China stocks rally on stimulus signals after dismal trade data

Chinese stocks climbed on Tuesday as Beijing signalled more stimulus measures, a day after the world's second largest economy posted weaker-than-expected December trade data.

** The blue-chip CSI300 index rose 2.0 percent, to 3,127.99 points, while the Shanghai Composite Index ended up 1.4 percent at 2,570.34 points.

** Sector advanced across the board, led by consumer firms, with the CSI consumer staples index closing 4.4 percent higher.

** China will aim to achieve "a good start" in the first quarter for the economy, the state planner said on Tuesday, signalling authorities could roll out more stimulus measures in the near term to counter slowing growth.

** The world's second-biggest economy slowed in 2018 as Chinese authorities carried out painful long-term structural adjustments to transition to a more gradual but sustainable growth trajectory.

** Premier Li Keqiang said China achieved its key 2018 economic targets, which were "hard-won", and seeks a strong start to the economy in the first quarter to establish conditions helpful to meeting this year's goals, according to state television on Monday.

** That came a day after after China's exports unexpectedly fell the most in two years in December, while imports also contracted, pointing to further weakness in the world's second-largest economy in 2019 and deteriorating global demand.

** Around the region, MSCI's Asia ex-Japan stock index was firmer by 1.33 percent, while Japan's Nikkei index closed up 0.96 percent.

** At 07:19 GMT, the yuan was quoted at 6.7532 per U.S. dollar, 0.2 percent firmer than the previous close of 6.767.

** The largest percentage gainers on the main Shanghai Composite index were shares of Ningbo Haitian Precision Machinery Co Ltd, up 10.07 percent, followed by Pengqi Technology Development Co Ltd, gaining 10.07 percent and Pengqi Technology Development Co Ltd, up 10.05 percent.

** The largest percentage losers on the Shanghai index were stocks of Zoy Home Furnishing Co Ltd down 10.01 percent, followed by Zhongchang Big Data Corp Ltd losing 9.99 percent and Wuhan Bester Group Telecom Co Ltd down 9.11 percent.

** The Shanghai stock index is up 3.1 percent and the CSI300 has risen 3.9 percent , while China's H-share index listed in Hong Kong is up 3.5 percent. Shanghai stocks have risen 3.07 percent this month.

** About 16.03 billion shares were traded on the Shanghai exchange, roughly 117.3 percent of the market's 30-day moving average of 13.66 billion shares a day. The volume in the previous trading session was 14.48 billion.

** As of 07:20 GMT, China's A-shares were trading at a premium of 18.18 percent over the Hong Kong-listed H-shares. (Reporting by Shanghai Newsroom; Editing by Rashmi Aich)

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