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China's blue-chip index ends at 13-year high on rare earths boost

Reuters2021-02-09

BEIJING, Feb 9 (Reuters) - China's blue-chip index closed on Tuesday at the highest level in 13 years, with rare earth stocks shining, as investors were reassured by a quicker economic recovery following a containment of a resurgence of locally transmitted COVID-19 infections.

The blue-chip CSI300 index ended up 2.19% at 5686.25, the highest closing level since January 15, 2008, with its consumer staples sector adding 2.91% and the healthcare sub-index climbing 2.11%.

The Shanghai Composite index was up 2.01% at 3,603.49, the biggest daily gain in nearly a month.

Leading the gains, the rare earth sector sub-index surged 5% while the natural resource sub-index gained 4.5%.

The smaller Shenzhen index ended up 2.44% and the start-up board ChiNext Composite index was higher by 1.714%.

China reported 14 new COVID-19 cases on the mainland on Feb. 8, official data showed on Tuesday, unchanged from a day earlier and the second day of no locally transmitted infections.

Auto sales in the country surged in January with a 30% jump from the same month a year earlier, the tenth month of gains, as China continued to lead the global automobile industry's recovery from the COVID-19 pandemic.

Shares in China's digital currency-related stocks rose, underpinned by gains for cryptocurrencies.

Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.42%, while Japan's Nikkei index closed up 0.4%.

At 0711 GMT, the yuan was quoted at 6.4497 per U.S. dollar, 0.01% weaker than the previous close of 6.4488.

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Comment11

  • Ehyj
    ·2021-02-10
    [財迷] [財迷] [財迷] 
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  • JWZ137
    ·2021-02-10
    Hold
    Reply
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  • WangWang99
    ·2021-02-10
    Good
    Reply
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  • Ychia1761
    ·2021-02-10
    In Malaysia... using tiger brokers can't buy China stocks[無語] 
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    Fold Replies
    • Ychia1761
      aiya... no choice have too find us stocks [贱笑]
      2021-02-12
      Reply
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    • Research
      go for US stocks
      2021-02-10
      Reply
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  • JinJie
    ·2021-02-10
    Yes that's quite not bad you think so too short to be a good day to come in and talk to you soon and have a great
    Reply
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  • Janzant
    ·2021-02-10
    Future
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  • Gcb9
    ·2021-02-09
    Strong
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  • JWZ137
    ·2021-02-09
    [強] 
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  • cHao7
    ·2021-02-09
    Fly 
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  • Geniex
    ·2021-02-09
    ???
    Reply
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  • JJTEH
    ·2021-02-09
    Very nice ah
    Reply
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