ANL 31.55 Increased By ▲ 0.05 (0.16%)
ASC 20.80 Increased By ▲ 1.00 (5.05%)
ASL 24.00 Increased By ▲ 0.04 (0.17%)
BOP 8.17 Decreased By ▼ -0.10 (-1.21%)
BYCO 10.24 Decreased By ▼ -0.18 (-1.73%)
FCCL 22.60 Decreased By ▼ -0.13 (-0.57%)
FFBL 27.20 Increased By ▲ 0.10 (0.37%)
FFL 21.20 Increased By ▲ 0.80 (3.92%)
FNEL 9.18 Increased By ▲ 0.40 (4.56%)
GGGL 28.03 Decreased By ▼ -0.07 (-0.25%)
GGL 46.75 Increased By ▲ 0.20 (0.43%)
HUMNL 7.55 Increased By ▲ 0.20 (2.72%)
JSCL 22.93 Increased By ▲ 0.28 (1.24%)
KAPCO 40.10 Increased By ▲ 0.18 (0.45%)
KEL 3.94 Decreased By ▼ -0.04 (-1.01%)
MDTL 3.81 Increased By ▲ 0.06 (1.6%)
MLCF 45.10 Decreased By ▼ -0.65 (-1.42%)
NETSOL 167.35 Increased By ▲ 1.29 (0.78%)
PACE 8.03 Decreased By ▼ -0.12 (-1.47%)
PAEL 34.87 Increased By ▲ 0.42 (1.22%)
PIBTL 11.35 Decreased By ▼ -0.10 (-0.87%)
POWER 9.35 Decreased By ▼ -0.01 (-0.11%)
PRL 24.13 Increased By ▲ 0.24 (1%)
PTC 11.75 Decreased By ▼ -0.05 (-0.42%)
SILK 1.83 No Change ▼ 0.00 (0%)
SNGP 51.18 Decreased By ▼ -5.07 (-9.01%)
TELE 15.57 Increased By ▲ 0.82 (5.56%)
TRG 168.06 Increased By ▲ 0.80 (0.48%)
UNITY 43.84 Decreased By ▼ -0.36 (-0.81%)
WTL 3.82 Increased By ▲ 0.26 (7.3%)
BR100 5,176 Decreased By ▼ -28.35 (-0.54%)
BR30 26,711 Decreased By ▼ -45.55 (-0.17%)
KSE100 47,673 Decreased By ▼ -120.39 (-0.25%)
KSE30 19,107 Decreased By ▼ -54.37 (-0.28%)

Coronavirus
VERY HIGH Source: covid.gov.pk
Pakistan Deaths
23,087
3924hr
Pakistan Cases
1,011,708
3,26224hr
6.6% positivity
Sindh
369,245
Punjab
353,695
Balochistan
29,681
Islamabad
85,947
KPK
142,139
Markets

China shares rise as some IT firms pledge against anti competition; Hang Seng gains

  • The smaller Shenzhen index was up 0.79%, the start-up board ChiNext Composite index was higher by 1.4% and Shanghai's tech-focused STAR50 index was up 0.84%?.
14 Apr 2021

BEIJING: China shares edged higher on Wednesday with IT firms leading gains, as investors cheered a dozen internet platform companies pledging to avoid anti-competitive behaviours, after e-commerce giant Alibaba was fined a record $2.75 billion last week for such practices.

At the midday break, the Shanghai Composite index was up 0.15% at 3,401.72, while the blue-chip CSI300 index was up 0.31%.

The information technology sector added 1.03%, and the material sector gained 0.84%.

Chinese H-shares listed in Hong Kong rose 1.35% to 10,997.33, while the Hang Seng Index was up 1.24% at 28,850.00.

Hong Kong-listed JD.com was set for its best session since April 1, after the Chinese e-commerce firm, along with 11 other internet platform companies, pledged to avoid anti-competitive behaviours such as forcing vendors to use their platform exclusively.

This is the first batch of the 34 companies including Tencent that were ordered by China's market regulator to conduct self-inspections for illegal business behaviours on Tuesday, warning of "severe punishment" for any that still violated the rules.

Shares of Alibaba Group rose for a third straight session, after it said on Monday it does not expect any material impact from the antitrust crackdown in China.

Analysts say expectations of regulatory action had been largely priced in for internet companies before the fine, and the market uncertainty about Alibaba will be reduced.

China's exports grew strongly in March on improving global demand as COVID-19 vaccinations progress, and import growth hit a four-year high, data showed on Tuesday, adding to signs of a solidifying recovery in the world's second-largest economy.

The smaller Shenzhen index was up 0.79%, the start-up board ChiNext Composite index was higher by 1.4% and Shanghai's tech-focused STAR50 index was up 0.84%?.

Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.56% while Japan's Nikkei index was down 0.43%.