ANL 10.41 Decreased By ▼ -0.09 (-0.86%)
ASC 9.01 Decreased By ▼ -0.18 (-1.96%)
ASL 11.07 Decreased By ▼ -0.06 (-0.54%)
AVN 76.90 Increased By ▲ 0.55 (0.72%)
BOP 5.44 No Change ▼ 0.00 (0%)
CNERGY 5.25 Decreased By ▼ -0.02 (-0.38%)
FFL 6.60 Increased By ▲ 0.03 (0.46%)
FNEL 5.85 Decreased By ▼ -0.05 (-0.85%)
GGGL 10.96 Decreased By ▼ -0.12 (-1.08%)
GGL 16.48 Increased By ▲ 0.04 (0.24%)
GTECH 8.63 Increased By ▲ 0.11 (1.29%)
HUMNL 6.82 Decreased By ▼ -0.07 (-1.02%)
KEL 2.86 Decreased By ▼ -0.04 (-1.38%)
KOSM 3.19 Decreased By ▼ -0.01 (-0.31%)
MLCF 25.69 Decreased By ▼ -1.22 (-4.53%)
PACE 2.95 Decreased By ▼ -0.05 (-1.67%)
PIBTL 5.95 Increased By ▲ 0.04 (0.68%)
PRL 17.21 Increased By ▲ 0.32 (1.89%)
PTC 6.97 No Change ▼ 0.00 (0%)
SILK 1.23 Increased By ▲ 0.06 (5.13%)
SNGP 36.41 Increased By ▲ 0.11 (0.3%)
TELE 10.73 Increased By ▲ 0.14 (1.32%)
TPL 9.03 Decreased By ▼ -0.10 (-1.1%)
TPLP 19.70 Decreased By ▼ -0.21 (-1.05%)
TREET 28.60 No Change ▼ 0.00 (0%)
TRG 76.25 Decreased By ▼ -0.05 (-0.07%)
UNITY 19.88 Increased By ▲ 0.03 (0.15%)
WAVES 12.80 Increased By ▲ 0.14 (1.11%)
WTL 1.37 Increased By ▲ 0.01 (0.74%)
YOUW 5.00 Decreased By ▼ -0.07 (-1.38%)
BR100 4,057 Decreased By -34.6 (-0.85%)
BR30 14,907 Decreased By -45.7 (-0.31%)
KSE100 41,103 Decreased By -245.6 (-0.59%)
KSE30 15,635 Decreased By -101.8 (-0.65%)

SHANGHAI: China stocks extended gains on Wednesday as the reserve requirement ratio cut kept investor sentiment buoyed, with consumer staples and chipmakers leading the rise.

The CSI300 index rose 1.1% to 4,976.56 by the end of the morning session, while the Shanghai Composite Index gained 0.9% to 3,626.11.

The Hang Seng index dropped 0.1% to 23,954.91. The Hong Kong China Enterprises Index lost 0.2% to 8,510.67.

** The People's Bank of China cut the amount of cash that banks must hold in reserve on Monday, its second such move this year, freeing up 1.2 trillion yuan ($188 billion) in long-term liquidity to bolster slowing economic growth.

** Consumer staples rose 2.5%, with liquor makers leading the jump and up nearly 4%.

** Liquor giant Kweichow Moutai, the biggest stock in the A-share market by market cap, surged 3.6%.

** Hot sectors such as semiconductor and new energy climbed 2.6% and 1.8%, respectively, after some investors took profits in the previous session.

** Real estate developers retreated 0.9%.

** Hong Kong shares edged down as index heavyweight Alibaba Group slumped 5.1% after witnessing its biggest jump since listing in Hong Kong in the previous session.

** The volatility in share price showed divergent views on the e-commerce giant's outlook, analysts noted, especially after Alibaba said it would reorganise its international and domestic e-commerce businesses and replace its finance chief.

** The Hang Seng Tech Index was flat, with internet giants Tencent Holdings and Meituan inching up less than 1%.

** Philip Li, investment director at Wellington Management, said the shares of internet firms hit by a crackdown have already reflected the regulatory risks and the sector is attractive now.

** China Evergrande Group hit an all-time low after it missed a debt payment deadline, putting the developer at risk of becoming China's biggest defaulter, although hopes of a managed debt restructuring calmed fears of a messy collapse.

** The healthcare sector rebounded 2.7% after last session's 5.8% slump.

Comments

Comments are closed.