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China stocks end firmer on robust China trade data
December 8, 2017 / 7:12 AM / 10 days ago

China stocks end firmer on robust China trade data

SHANGHAI, Dec 8 (Reuters) - China stocks ended higher on Friday, as better-than-expected Chinese trade data underpinned market sentiment.

China’s exports and imports accelerated last month after slowing in October, an encouraging sign for the world’s second-biggest economy which has started to slow amid an official crackdown on debt risks and factory pollution.

** At the close, the Shanghai Composite index was up 18.11 points or 0.55 percent at 3,290.17 points. ** The blue-chip CSI300 index was up 0.82 percent, with its financial sector sub-index higher by 0.61 percent, the consumer staples sector up 2.28 percent, the real estate index down 0.17 percent and healthcare sub-index up 0.88 percent. ** The smaller Shenzhen index ended up 1.24 percent and the start-up board ChiNext Composite index was higher by 0.85 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.85 percent while Japan’s Nikkei index closed up 1.39 percent. ** At 07:01 GMT, the yuan was quoted at 6.6171 per U.S. dollar, 0.05 percent weaker than the previous close of 6.614. ** The largest percentage gainers in the main Shanghai Composite index were Yonghui Superstores Co Ltd up 10.01 percent, followed by Universal Scientific Industrial Shanghai Co Ltd gaining 9.94 percent and Anyang Iron & Steel Inc up by 8.37 percent. ** The largest percentage losses in the Shanghai index were Zhejiang Chint Electrics Co Ltd down 7.11 percent, followed by Shanghai Diesel Engine Co Ltd losing 6.33 percent and Sichuan Langsha Holding Ltd down by 3.61 percent. ** So far this year, the Shanghai stock index is up 5.43 percent, while China’s H-share index listed in Hong Kong is up 18.7 percent. Shanghai stocks have declined 1.36 percent this month. ** About 13.32 billion shares were traded on the Shanghai exchange, roughly 75.5 percent of the market’s 30-day moving average of 17.65 billion shares a day. The volume in the previous trading session was 13.21 billion. ** As of 07:02 GMT, China’s A-shares were trading at a premium of 32.12 percent over the Hong Kong-listed H-shares. ** The Shanghai stock index is below its 50-day moving average and above its 200-day moving average. ** The price-to-earnings ratio of the Shanghai index was 14.68 as of the last full trading day while the dividend yield was 2 percent. ** So far this week, the market capitalisation of the Shanghai stock index has fallen by 0.97 percent to 28.51 trillion yuan. (Reporting by Luoyan Liu and John Ruwitch; Editing by Jacqueline Wong)

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