China stocks close up as new energy shares boost

SHANGHAI: China stocks closed up on Wednesday, led by non-ferrous metals and new energy shares. The blue-chip CSI300 index rose 0.1% to 4,885.75, while the Shanghai Composite Index gained 0.4% to 3,537.37 points.

Lithium stocks jumped, with Tibet Summit Resources Co, Chengxin Lithium Group and Tianqi Lithium Corp up 10% each.

The surge led the non-ferrous metal sub-index and the new energy sub-index up more than 2.5% each.

New energy vehicles and photovoltaic shares, two sub-sectors of the new energy industry, also gained.

A U.S. judge overseeing trade issues on Tuesday overturned a decision by then-President Donald Trump to allow a reimposition of tariffs on some imported solar panels. The new energy index has doubled in one year as China steps up efforts to become more green.

High-end equipment manufacturers and defence stocks rose 2.5% and 2.1%, respectively.

Fourty out of the first batch of 81 companies went up on the new Beijing Stock Exchange.

Shares have been trading sideways recently, and Vanho Securities said it expected the market might remain range-bound in the near future with investors searching for directional clues. It said policy easing expectations would rise as the year comes to an end, and suggested to buy blue-chips.