May 7, 2024 at 8:20 am GMT
SHANGHAI, May 7 (Reuters) -China stocks closed up on Tuesday, led by property shares, as a slew of measures helped lift sentiment in the sector, while Hong Kong shares retreated after a 10-day winning streak.
The CSI real estate index .CSI000952 rose 2.9% after China's first-tier city Shenzhen eased some home purchase restrictions. The index was up 16% after bottoming on April 24.
"Our Real Estate team has recently noticed signs of a recovery in the property sector. Cheap valuations, policy support and no major downside surprises on the earnings front should keep the risk/reward for the market compelling," HSBC analysts said in a note.
Meanwhile, foreigncapital solda net2.1 billion yuan ($291.04 million) worth of shares via the Stock Connect scheme's northbound link.
** At the close, the Shanghai Composite index . SSEC was up 0.22% at 3,147.74.
** The blue-chip CSI300 index .CSI300 was up 0.03%, with its financial sector sub-index .CSI300FS higher by 0.08%, the consumer staples sector .CSI000912 rose 0.42%, the real estate index .CSI000952 was up 2.88% and the healthcare sub-index .CSI300HC fell 0.01%.
** The smaller Shenzhen index . SZSC ended up 0.24% and the start-up board ChiNext Composite index .CNT was weaker by 0.141%.
** Around the region, MSCI 's Asia ex-Japan stock index .MIAPJ0000PUS was firmer by 0.24%, while Japan's Nikkei index .N225 closed up 1.57%.
** At 07:51, the yuan CNY=CFXS was quoted at 7.2152 per U.S. dollar, 0.1% weaker than the previous close of 7.2077.
** At the close of trade, the Hang Seng index .HSI was down 98.93 points or 0.53% at 18,479.37. The Hang Seng China Enterprises index . HSCE fell 0.7% to 6,526.67.
** The sub-index of the Hang Seng tracking energy shares .HSCIE rose 0.9%, while the IT sector .HSCIIT dipped 1.9%, the financial sector . HSNF ended 0.02% lower and the property sector rose 0.88%.
($1 = 7.2154 Chinese yuan renminbi)
Reporting by Shanghai Newsroom; Editing by Savio D'Souza and Sohiini Goswami
Sumber : Reuters
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