Nov 20, 2024 at 9:12 am GMT
Updates closing price, adds movers
HONG KONG (Reuters)-China and Hong Kong stocks edged higher in volatile trading on Wednesday, with mainland shares supported by AI stocks ahead of Nvidia's earningslater in the day, while investorsremained cautious amid steady lending rates.
** The Shanghai Composite index. SSEC closed up0.66% at 3,367.99.
** The blue-chip CSI300 index.CSI300ended up0.22%,with the consumerstaples sector.CSI000912and the healthcare sub-index.CSI300HCclosing 0.37% and 2.13%higher, respectively.
** The CSI300 Artificial Intelligence Index.CSI930713climbed 1.5%ahead of Nvidia's. NVDA .Oreport card later in the day.
** Hong Kong's benchmark Hang Seng Index.HSIgained 0.21% at 19,702.79.
** China's central bank leftkey lendingratesunchangedat the monthly fixing on Wednesday, after recent rate cuts squeezed banks' profitability and the yuancame underfresh pressure with Donald Trump's imminent return to the White House.
** Market fundamentals have improved following the recent policymeasures buthaven't shown significant strength yet. The market rotation among major sectors is likely to stay with no clear signs of earnings bottoming out, analysts at Sinolink Securities said in a note.
** Around the region, MSCI 's Asia ex-Japan stock index.MIAPJ0000PUSwas weaker by 0.19%.
** Chinese ADRs.HXCfell 0.75% overnight.
** Elsewhere, major Chinese fund companies announced areduction in feesfor a batch of equity exchange-traded funds (ETFs), after China's chief securities regulator Wu Qing pledged to encourage index investment and fund industry fee reform.
Reporting by Hong Kong Newsroom; Editing by Rashmi Aich and Sumana Nandy
Sumber : Reuters
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