January 12, 2022 - 12:11 PM Updated
- SSEC +0.35%, CSI300 +0.36%; Hang Seng +2.12%
- China producer price growth slower than expected in December
- Hang Seng up on tech boost, property drags
SHANGHAI, (Reuters) - Chinese shares rose on Wednesday, supported by materials, consumer and new energy firms after slower-than-expected December producer inflation made room for more monetary easing in the world's second-largest economy.
** At the midday break, the Shanghai Composite index(. SSEC )was up 0.35% at 3,579.93.
** China's blue-chip CSI300 index(.CSI300)was up 0.36%, with the new energy sub-index(.CSI399808)up 2.26%.
** Resource firms(.CSI000944)were 2.06% higher and the consumer staples sector(.CSI000912)was up 0.49%.
** China's producer prices rose slower than expected in December after government measures to contain high raw material prices, while consumer prices slowed as food prices fell.read more
** Analysts expect moderating factory-gate inflation to offer more room for loosening monetary policy, as authorities seek to stabilise growth.
** Hong Kong-listed Chinese H-shares(. HSCE )rose 2.2% to 8,552.76, while the Hang Seng Index(.HSI)gained 2.12% to 24,241.15.
** The Hang Seng Tech index(.HSTECH)was 3.86% higher at midday as tech firms led a rebound in equities after U.S. Federal Reserve Chairman Jerome Powell gave less hawkish than expected comments in a testimony to Congress.read more
** JD.Com Inc(9618.HK), up 9.89%, was the top gainer among H-shares, followed by Meituan(3690.HK), gaining 9.33% and CNOOC Ltd , up 7.93%.
** Mainland developers capped broader gains in Hong Kong and were the top H-shares decliners.
** Sunac China Holdings Ltd(1918.HK)fell 4.6%, China Overseas Land & Investment Ltd(0688.HK)lost 2.63% and Country Garden Holdings Co Ltd(2007.HK)slipped 2.04%.
** The mainland properties index(.HSMPI)fell 1.99%.
** The smaller Shenzhen index(. SZSC )was up 0.7%, the start-up board ChiNext Composite index(.CNT)was up 1.36% and Shanghai's tech-focused
** Around the region, MSCI 's Asia ex-Japan stock index(.MIAPJ0000PUS)rose 1.16%, while Japan's Nikkei index(.N225)gained 1.93%.
** The yuan was quoted at 6.3651 per U.S. dollar, 0.13% firmer than the previous close of 6.3733.
Reporting by Andrew Galbraith; Editing by Rashmi Aich
Sumber : Reuters
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