China shares end higher, virus vaccine hopes boost healthcare stocks

SHANGHAI: China shares ended higher on Tuesday, lifted by healthcare stocks as global hopes for a coronavirus vaccine firmed, but profit-taking following the previous session's rally checked gains.

At the close, the Shanghai Composite index was up 0.2pc at 3,320.89, after flirting with small losses in the afternoon session. The index jumped 3.1pc a day earlier.

The blue-chip CSI300 index added 0.23pc with the healthcare sub-index soaring 3.95pc, on rising global hopes for coronavirus vaccines following promising studies.

The smaller Shenzhen index gained 0.72pc and the start-up board ChiNext Composite index was 1.45pc higher.

Around the region, MSCI's Asia ex-Japan stock index was firmer by 1.89pc, while Japan's Nikkei index closed up 0.73pc.

At 0701 GMT, the yuan was quoted at 6.9911 per US dollar, 0.01pc firmer than the previous close of 6.9915.

The largest percentage gainers in the main Shanghai Composite index were Jiangsu Highhope International Group Corp, up 10.12pc, followed by BEH-Property Co Ltd, gaining 10.12pc and Ningxia Xinri Hengli Steel Wire Rope Co Ltd, up by 10.08pc.

The largest percentage losses in the Shanghai index were of Xinjiang Youhao Group Co Ltd down 10.06pc, followed by Xishui Strong Year Co Ltd Inner Mongolia and Luyin Investment Group Co Ltd, both down 9.97pc each.

So far this year, the Shanghai stock index is up 8.9pc and the CSI300 has risen 14.5pc, while China's H-share index listed in Hong Kong is down 6.7pc. Shanghai stocks have risen 11.26pc this month.

As of 0702 GMT, China's A-shares were trading at a premium of 32.79pc over Hong Kong-listed H-shares.

So far this week, the market capitalisation of the Shanghai stock index has risen by 3.20pc to 38.00 trillion yuan ($5.44 trillion).