Apr 24, 2024 at 5:11 am GMT
SHANGHAI (Reuters) -China stocks rose on Wednesday and tracked global peers higher as market sentiment was buoyed by upbeat earnings from U.S. companies and rate-cut relief after data showed U.S. business activity cooled in April.
Lifting sentiment, UBS analysts forecast foreign investors to gradually return to China's market via the Stock Connect as market sentiment and macro environment improve. The bank's strategists upgraded MSCI China equities to "overweight" on Tuesday.
Asian stocks tracked Wall Street higher as an after-hours surge in U.S.-listed shares of electric vehicle maker Tesla TSLA .O and upbeat earnings from some U.S. companies lifted risk sentiment.
Traders also found comfort in data that signalled U.S. business activity cooled in April to a four-month low due to weaker demand, while rates of inflation eased slightly, suggesting some possible relief for the Federal Reserve.
** At the midday break, the Shanghai Composite index . SSEC was up 0.33% at 3,031.96 points.
** China's blue-chip CSI300 index .CSI300 remained flat, with its financial sector sub-index .CSI300FS higher by 0.11%, the consumer staples sector .CSI000912 down 0.2%, the real estate index .CSI000952 down 0.52% and the healthcare sub-index .CSI300HC down 0.75%.
** Chinese H-shares listed in Hong Kong . HSCE rose 1.8% to 6,061.79, while the Hang Seng Index .HSI was up 1.67% at 17,110.21.
** The smaller Shenzhen index . SZSC was up 0.49%, the start-up board ChiNext Composite index .CNT was weaker by 0.1% and Shanghai's tech-focused 50 index .50 was up 0.67%.
** Around the region, MSCI 's Asia ex-Japan stock index .MIAPJ0000PUS was firmer by 1.55% while Japan's Nikkei index .N225 was up 2.15%.
** The largest percentage gainers in the main Shanghai Composite index were Sichuan Tianwei Electronic Co Ltd 688511.SS, up 19.99%, followed by Suzhou Harmontronics Automation Technology Co Ltd 688022.SS, gaining 19.99% and JinGuan Electric Co Ltd 688517.SS, up by 12.33%.
** The top gainers among H-shares were SenseTime Group Inc 0020.HK, up 31.15%, followed by Li Ning Co Ltd 2331.HK, gaining 6.27% and Kuaishou Technology 1024.HK, up by 6.21%.
Reporting by Shanghai Newsroom; Editing by Sherry Jacob-Phillips
Sumber : Reuters
powered by: IPOTNEWS.COM
