China stocks track Wall Street`s gain; economic data in focus
Friday, July 12, 2019       15:02 WIB

SHANGHAI, July 12 (Reuters) - China stocks ended higher on Friday ahead of a slew of economic data and tracking Wall Street's fresh highs overnight buoyed by renewed U.S. rate-cut hopes, but the main domestic indexes closed down for the week.
The blue-chip CSI300 index rose 0.6%, to 3,808.73 points, while the Shanghai Composite Index gained 0.4% to 2,930.55 points. ** China is due to release June trade and lending data on Friday, while second-quarter GDP figures are scheduled for Monday. China's economy is expected to have slowed to its weakest pace in at least 27 years, raising hopes for more stimulus ahead.
Meanwhile, worries over Sino-U.S. trade tensions resurfaced after U.S. President Donald Trump tweeted on Thursday that China was not living up to promises it made on buying agricultural products from American farmers.
Amid global slowdown and growing trade protectionism, U.S. Federal Reserve Chairman Jerome Powell indicated on Thursday that a rate cut is likely at the central bank's next meeting.
The CSI300 financial sector sub-index was higher by 0.85%, the consumer staples sector up 0.83%, the real estate index up 0.65% and the healthcare sub-index up 0.35%.
The smaller Shenzhen index ended up 0.51% and the start-up board ChiNext Composite index was higher by 0.256%.
Around the region, MSCI 's Asia ex-Japan stock index was weaker by 0.11%, while Japan's Nikkei index closed up 0.2%.
At 0707 GMT, the yuan was quoted at 6.8749 per U.S. dollar, 0.01% weaker than the previous close of 6.874.
The largest percentage gainers in the main Shanghai Composite index were Jiangsu Chengxing Phosph-Chemical Co Ltd, up 10.1%, followed by Anhui Liuguo Chemical Co Ltd, gaining 10.09% and JCHX Mining Management Co Ltd, up by 10.05%.
The largest percentage losers in the Shanghai index were Suzhou Secote Precision Electronic Co Ltd down 10%, followed by Central China Securities Co Ltd losing 9.84% and TKD Science and Technology Co Ltd down by 8.17%. (Reporting by Shanghai Newsroom; Editing by Rashmi Aich)

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