Apr 24, 2024 at 8:56 am GMT
SHANGHAI (Reuters) - China stocks closed up 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 the 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 close, the Shanghai Composite index . SSEC was up 0.76% at 3,044.82.
** The blue-chip CSI300 index .CSI300 was up 0.44%, with its financial sector sub-index .CSI300FS higher by 0.15%, the consumer staples sector .CSI000912 up 0.11%, the real estate index .CSI000952 down 0.3% and the healthcare sub-index .CSI300HC down 0.75%.
** The smaller Shenzhen index . SZSC ended up 1.18% and the start-up board ChiNext Composite index .CNT was higher by 0.699%.
** The Hang Seng index .HSI closed up 372.34 points or 2.21% at 17,201.27. The Hang Seng China Enterprises index . HSCE rose 2.45% to 6,100.22.
** The sub-index of the Hang Seng tracking energy shares .HSCIE rose 0.7%, while the IT sector .HSCIIT rose 3.97%, the financial sector . HSNF ended 1.68% higher and the property sector rose 1.81%.
** Chinese artificial intelligence (AI) software developer SenseTime Group Inc 0020.HK were halted from trading, after soaring as much as 36.1%, their biggest one-day gain since January 2022.
** Around the region, MSCI 's Asia ex-Japan stock index .MIAPJ0000PUS was firmer by 1.69%, while Japan's Nikkei index .N225 closed up 2.42%.
Reporting by Shanghai Newsroom; Editing by Sherry Jacob-Phillips and Ros Russell
Sumber : Reuters
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