• 108
  • 10
  • Favorite

China stocks rise as tech-focused STAR Board shines on policy support

Reuters2021-07-05

Shanghai, July 5 (Reuters) - China's major indexes eked out gains on Monday, helped by robust strength in Shanghai's tech-focused STAR Board companies, as Beijing pledged continued policy support for its tech sector.

** The blue-chip CSI300 index edged up 0.1% to 5,085.79, while the Shanghai Composite Index added 0.4% to 3,534.32.

** Shenzhen's start-up board climbed 0.5%, while Shanghai's tech-focused STAR50 index gained 2.5%.

** Advanced Micro-Fabrication Equipment Inc China jumped as much as 12% before closing 7.4% higher, after China's state integrated circuit fund participated in the company's private placement.

** Six of China's ministries including Ministry of Industry and Information Technology pledged on Friday to foster outstanding manufacturers and support qualified companies to get financing from the capital markets.

** Though investors turned cautious after a slump on Friday, when major indexes fell the most in four months amid growth concerns.

** "Most of (China's) broad-based indices and industry indices now stand at the end of a rising trend, and the stock rally since the first quarter could have ended, leading to a potential correction going forward," Essence Securities noted in a report.

** A private survey showed on Monday that growth in China's services sector slowed sharply in June to a 14-month low, weighed down by a resurgence of COVID-19 cases in southern China, adding to concerns the world's second-largest economy may be starting to lose some momentum.

** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.01%, while Japan's Nikkei index closed down 0.64%.

** At 0731 GMT, the yuan was quoted at 6.4617 per U.S. dollar, 0.16% firmer than the previous close of 6.472.

** As of 0732 GMT, China's A-shares were trading at a premium of 39.15% over the Hong Kong-listed H-shares.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment10

  • MeowLing
    ·2021-07-06
    Pls like 
    Reply
    Report
  • FGP
    ·2021-07-06
    Please like, TQ
    Reply
    Report
  • DerrickNg
    ·2021-07-05
    Like
    Reply
    Report
  • Wongwonggg
    ·2021-07-05
    ???
    Reply
    Report
  • Newnew
    ·2021-07-05
    Reply
    Report
  • Harrylhp
    ·2021-07-05
    Like
    Reply
    Report
    Fold Replies
    • dangox3
      liked
      2021-07-06
      Reply
      Report
  • Harrylhp
    ·2021-07-05
    Cool
    Reply
    Report
  • AdrianT
    ·2021-07-05
    ?
    Reply
    Report
  • Abnegation
    ·2021-07-05
    Time to shift my stocks
    Reply
    Report
    Fold Replies
    • KTX
      Ok
      2021-07-05
      Reply
      Report
    • Ahjennn
      Cool
      2021-07-05
      Reply
      Report
  • T20211126001
    ·2021-07-05
    Like
    Reply
    Report
    Fold Replies
 
 
 
 

Most Discussed

 
 
 
 
 

7x24

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email:uservice@ttm.financial