December 19, 2017 / 7:37 AM / a month ago

China stocks firm in line with regional bourses, Wall Street

SHANGHAI, Dec 19 (Reuters) - China stocks ended higher on Tuesday, reflecting strength in Asian markets after a record-breaking performance on Wall Street buoyed by expectations of imminent tax reforms. ** At the close, the Shanghai Composite index was up 28.76 points or 0.88 percent at 3,296.68. ** The blue-chip CSI300 index was up 1.26 percent, with its financial sector sub-index higher by 1.92 percent, the consumer staples sector up 0.66 percent, the real estate index up 1.48 percent and healthcare sub-index up 1.05 percent. ** The smaller Shenzhen index ended up 0.87 percent and the start-up board ChiNext Composite index was higher by 1 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.45 percent while Japan’s Nikkei index closed down 0.15 percent. ** At 07:18 GMT, the yuan was quoted at 6.616 per U.S. dollar, 0.02 percent firmer than the previous close of 6.617. ** The largest percentage gainers in the main Shanghai Composite index were Easysight Supply Chain Management Co Ltd up 10 percent, followed by Hangzhou Advance Gearbox Group Co Ltd gaining 9.95 percent and Shandong Hualu Hengsheng Chemical Co Ltd up by 9.72 percent. ** The largest percentage losses in the Shanghai index were Tibet Summit Resources Co Ltd down 7.14 percent, followed by Shanghai Zhixin Electric Co Ltd losing 4.68 percent and Nanjing Central Emporium Group Stocks Co Ltd down by 3 percent. ** About 11.51 billion shares were traded on the Shanghai exchange, roughly 69.6 percent of the market’s 30-day moving average of 16.54 billion shares a day. The volume in the previous trading session was 12.07 billion. ** As of 07:19 GMT, China’s A-shares were trading at a premium of 30.07 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 14.65 as of the last full trading day while the dividend yield was 2 percent. ** So far this week, the market capitalization of the Shanghai stock index has risen by 0.17 percent to 28.50 trillion yuan. (Reporting by Shanghai Newsroom; Editing by Jacqueline Wong)

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