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Markets

China stocks close up as new energy shares boost

  • 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
Updated 17 Nov, 2021

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 US 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.

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