SHANGHAI, Oct 19 (Reuters) - China stocks closed higher on Tuesday, led by consumer staples and agriculture stocks, as the country's market regulator eyed better support for private firms after weak economic data.
The blue-chip CSI300 index rose 1% to 4,922.72, while the Shanghai Composite Index gained 0.7% to 3,593.15.
** China's market regulator said it will take steps to boost support for private firms and promote fair competition by strengthening supervision.
** This comes after data on Monday showed economic growth in China hit a one-year low, while analysts expected more targeted easing measures to come in the coming months.
** Consumer staples added 2.8%, rebounding from a sharp drop in the previous session as the sector was spooked by President Xi Jinping's call for the expansion of a consumption tax.
** Broker CICC said in a note that consumption was expected to continue to recover in the fourth quarter.
** Analysts said investors would now eye third-quarter corporate earning reports.
** The agriculture sub-index finished up more than 3%, with pig-breeding companies surging the most.
** A sub-index tracking healthcare shares was up 1.8%.
** Bucking the trend, real estate firms lost 1% as investors digest Beijing's property tax plans and growing signs of weakness in China's housing market.
Sumber : Reuters.com
powered by: IPOTNEWS.COM
