Left Menu
Development News Edition

China stocks recover as supportive measures offset trade worries

China stocks recover as supportive measures offset trade worries
China's main indexes recovered losses at close on Tuesday, as Beijing's market-friendly measures helped offset investor anxiety after Washington's sweeping criminal charges against Chinese telecom giant Huawei.

** The blue-chip CSI300 index rose 0.3 percent to end at 3,193.97, while the Shanghai Composite Index ended roughly flat at 2,594.25 points. ** Investor sentiment, already shaken by pessimism over global growth, took another hit after the U.S. Justice Department unsealed indictments against China's top telecom equipment maker Huawei, accusing it of bank and wire fraud to evade Iran sanctions and conspiring to steal trade secrets from T-Mobile US Inc. ** But market mood was aided by Beijing's fresh measures to support the economy, and the market. The country's state planner on Tuesday unveiled a flurry of measures aimed at spurring sales of items ranging from cars and appliances to information services.

** In addition, China's insurance regulators encouraged insurers to buy more stocks and bonds, while the country's securities watchdog put out a statement at lunch time denying a rumour that the key task for the regulator in 2019 is to promote the mechanism for short-selling. ** The CSI300 financial sector sub-index was higher by 0.58 percent, while the healthcare sub-index rose 0.72 percent. ** The smaller Shenzhen index ended down 1.11 percent and the start-up board ChiNext Composite index was weaker by 1.282 percent. ** Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.28 percent, while Japan's Nikkei index closed up 0.08 percent. ** At 07:19 GMT, the yuan was quoted at 6.7379 per U.S. dollar, 0.11 percent firmer than the previous close of 6.745. ** The largest percentage gainers on the main Shanghai Composite index were shares of Beijing Hualian Hypermarket Co Ltd , up 10.07 percent, followed by Nanning Department Store Co Ltd, gaining 10.05 percent and Anhui Quanchai Engine Co Ltd, up by 9.97 percent. ** The largest percentage losers on the Shanghai index were shares of Gansu Ronghua Industry Group Co Ltd down 10.09 percent, followed by Zhejiang Feida Environmental Science & Technology Co Ltd losing 10.07 percent and Shanghai Xinhua Media Co Ltd down by 10.07 percent. (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.)

Download The Devdiscourse News App for Latest News.



Conspiracy theories on COVID 19: Legislators, Scientists, and Journalists all joined the Caravan

Conspiracy theories are not new for virus epidemics. There have been conspiracy theories on HIV-AIDS, Polio Vaccines, Ebola Virus, and several other diseases as well. However, what makes the 2019 Novel Coronavirus different from others is ...

Top 10 Fake News, Myths and Realities on 2019 Novel Coronavirus COVID 19

With nearly 1500 deaths by January 14 and around 65,000 infections in China, the Novel Coronavirus 2019 has become one of the worst health epidemics of the 21st Century. However, 8,573 people have been cured but the rumor mongers are a...

Handling fake news Infodemic in time of Coronavirus epidemic

Social media has provided a platform where everybody can disseminate his her views without any supervision. Its excellent if the message is genuine but misinformation is equally disastrous. Health is such a topic where every Tom and Harry c...

Sentiment Analysis on Budget 2020: Long shot for solution to economic worries?

Industries and individuals alike had high expectations from the government to take tangible steps but the budget 2020 seems to have failed expectations....


Latest News

Swiss asset manager GAM steps up cost savings under new CEO

GAM Holdings new Chief Executive Peter Sanderson said on Thursday the Swiss asset manager aims to step up cost-cutting measures and touch an operating margin of 30 in two years. A strategy update unveiled by Sanderson targeted cost savings ...

Olympics-Australia bickers about athlete funding as Tokyo looms

If bickering over funding was an Olympic sport, Australia would be in line for a gold that might help slow the nations seemingly inexorable slide down the medals table.Just five months before the Tokyo Games begin, a war of words has broken...

Be positive, try and learn as many things as possible: Rahane's advice to Rishabh Pant

Indias Test batsman Ajinkya Rahane on Thursday said that out of form wicket-keeper batsman Rishabh Pant has to be positive to try and learn as many things as possible from any of the players. Its important to accept whatever you are going t...

British actress Julie Walters battled bowel cancer

Julie Walters, one of Britains most famous actresses, said she had undergone surgery to remove 30 cm 12 inches of her colon and taken a course of chemotherapy after being diagnosed with stage three bowel cancer. Walters, who rose to promine...

Give Feedback