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China stocks rise after new capital market guidelines; HK shares drop
Reuters·04/15/2024 08:32:45
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China stocks rise after capital market guidelines; HK shares drop

Updates to market close

- China stocks had a good start to the week, with major indexes closing higher on Monday as investors interpreted the guidelines on the country's capital market as a positive signal for the stock market. Hong Kong shares declined.

China's securities regulator issued draft rules on Friday to strengthen the supervision of company listings, delistings and computer-driven programme trading, in a move to improve the stock market and protect investors' interests.

UBS strategist Lei Meng believes that the updated policies would fundamentally guide the long-term healthy development of the capital market, improve the quality of listed companies and boost market confidence.

** At the close, the Shanghai Composite index .SSEC was up 1.26% at 3,057.38.

** The blue-chip CSI300 index .CSI300 was up 2.11%, with its financial sector sub-index .CSI300FS higher by 1.86%, the consumer staples sector .CSI000912 up 2.77%, the real estate index .CSI000952 up 0.21% and the healthcare sub-index .CSI300HC up 1.08%.

** The smaller Shenzhen index .SZSC ended down 0.29% and the start-up board ChiNext Composite index .CNT was higher by 1.852%.

** Around the region, MSCI's Asia ex-Japan stock index .MIAPJ0000PUS was weaker by 0.79%, while Japan's Nikkei index .N225 closed down 0.74%.

** At 0747 GMT, the yuan CNY=CFXS was quoted at 7.2386 per U.S. dollar, 0.02% weaker than the previous close of 7.2372.

** At the close of trade, the Hang Seng index .HSI was down 121.23 points or 0.72% at 16,600.46. The Hang Seng China Enterprises index .HSCE fell 0.39% to 5,856.44.

** The sub-index of the Hang Seng tracking energy shares .HSCIE rose 1.6%, while the IT sector .HSCIIT dipped 1.23%, the financial sector .HSNF ended 0.5% lower and the property sector dipped 0.89%.

** The top gainer on the Hang Seng was Lenovo Group Ltd 0992.HK, which gained 2.64%, while the biggest loser was Chow Tai Fook Jewellery Group Ltd 1929.HK, which fell 7.92%.


(Reporting by Shanghai Newsroom; Editing by Sonia Cheema and Rashmi Aich)

((li.gu@tr.com))

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