China shares gain on surprise jump in export growth

SHANGHAI: China shares rose on Tuesday, lifted by materials firms, after the country's exports unexpectedly grew at a faster pace in August, and as officials vowed to push further opening of capital markets to foreign investors.

** At the midday break, the Shanghai Composite index was up 0.77% at 3,649.65.

** China's blue-chip CSI300 index was up 0.16%, with the materials sector up 2.87% and the consumer discretionary sub-index up 1.26%.

China shares rise on new stock exchange plan, government support

** The country's exports rose 25.6% from a year earlier in August, pointing to some resilience in China's industrial sector.

** The country will further open its capital markets to foreign investors, the top securities regulator said on Monday, adding that it will pursue pragmatic cross-border cooperation to regulate overseas-listed Chinese companies.

** Foreign investors were net buyers of A-shares through the Stock Connect programme, with Refinitiv data showing net inflows of 2.71 billion yuan at midday.

** Chinese H-shares listed in Hong Kong rose 0.87% to 9,452.58, while the Hang Seng Index was up 0.61% at 26,322.18.

** The smaller Shenzhen index was up 0.59%, the start-up board ChiNext Composite index was unchanged and Shanghai's tech-focused STAR50 index was down 0.09%?.

** Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.01% while Japan's Nikkei index was up 0.71%.

** The yuan was quoted at 6.4549 per US dollar, 0.05% firmer than the previous close of 6.458.

** So far this year, the Shanghai stock index is up 5.1%? and the CSI300 has fallen 5.2%, while China's H-share index listed in Hong Kong is down 12%. Shanghai stocks have risen 2.98% this month.