property shares fell after a string of Chinese property developers, including Vanke, reported weaker financial results for 2023.
rose on Friday as from evidence of offset lingering worries about the property sector. The Hong Kong market was closed for a public holiday.** Sentiment was boosted by mutual fund disclosure showing has been buying stakes in bluechip funds to bolster the market.
** But property shares fell after a string of Chinese property developers, including Vanke, reported weaker financial results for 2023.
** The blue-chip CSI300 index was up 0.47%, with its financial sector sub-index higher by 0.03%, the consumer staples sector up 0.28%, the real estate index down 1.99% and the healthcare sub-index down 0.36%.
** The smaller Shenzhen index ended up 0.8% and the start-up board ChiNext Composite index was higher by 0.626%.
** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.23%, while Japan's Nikkei index closed up 0.5%.
** At 07:07, the yuan was quoted at 7.2225 per U.S. dollar, 0.04% firmer than the previous close of 7.2256.
** The largest percentage gainers in the main Shanghai Composite index were 3onedata Co Ltd, up 20%, followed by Jiangsu Cai Qin Technology Co Ltd, gaining 19.97% and Shanghai V Test Semiconductor Tech Co Ltd , up by 15.65%.
** The largest percentage losses in the Shanghai index were Zhejiang Shengda Bio-Pharm Co Ltd down 10.03%, followed by Metro Land Corporation Ltd losing 10% and Ningxia Zhongke Biotechnology Co Ltd down by 10%.
** So far this year, the Shanghai stock index is up 2.2% and the CSI300 has risen 3.1%, while China's H-share index listed in Hong Kong is up 0.7%. Shanghai stocks have risen 0.86% this month.
Source: Stocks-Markets-Economic Times