SHANGHAI: China’s main stock indexes rose on Wednesday as fresh inflation data raised hopes policymakers could ease policy further to boost economic growth, while financials, healthcare and property shares offset weak performance in the technology sector.
At the close, the Shanghai Composite index was up 0.57% at 3,465.83. The blue-chip CSI300 index was up 0.39%, with its financial sector sub-index higher by 0.82%, the real-estate index up 1.66% and the healthcare sub-index up 0.25%.
Medical tech platform firm WuXi AppTec pulled the blue-chip index and healthcare sub-index higher, rising 4.16% a day after posting a sharp rise in net profit for 2021.
A sub-index, which tracks the technology sector, fell 0.45% as investors locked in profits a day after it jumped 2.6%. China’s factory-gate inflation eased to its slowest pace in six months and consumer price growth also softened in January, potentially giving the People’s Bank of China room to ease policy to support the slowing economy.
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