SHANGHAI: China stocks rose on Monday, with energy and real estate developers leading gains on expectations of more monetary easing after the central bank vowed to promote healthy development of the country's real estate market.
** At the midday break, the Shanghai Composite index was up 0.15% at 3,623.58 points while China's blue-chip CSI300 index was up 0.03%.
** Leading the gains, the real estate index added 1.01% while the energy sector gained 1.04%.
** China's central bank said it will safeguard the legal rights of home buyers and better satisfy their reasonable living needs, while the nation's top real estate regulator vowed to resolutely tackle risks stemming from overdue delivery of residential properties by some top developers.
** The smaller Shenzhen index was up 0.31%, the start-up board ChiNext Composite index was unchanged and Shanghai's tech-focused STAR50 index was unchanged for the day?.
** China's local symptomatic coronavirus cases crept up again, after it reported the highest daily rise in local infections in 21 months over the weekend, with most new infections reported in the northwestern city of Xian as it entered a fifth day of a lockdown.
The country's statistics bureau also said on Monday that profits at China's industrial firms grew at a slower pace in November.
** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.03% while Japan's Nikkei index was down 0.21%.
** The yuan was quoted at 6.3702 per US dollar, 0.05% weaker than the previous close of 6.3672.
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