INSUBCONTINENT EXCLUSIVE:
SHANGHAI: China shares ended higher on Monday as investors shrugged off country's slowest rate of annual economic growth in 28 years amid
expectations that authorities will pursue more stimulus to support growth.
At close, Shanghai Composite index was up 0.56 per cent at
The blue-chip CSI300 index was up 0.55 per cent, with its financial sector sub-index higher by 0.23 per cent and healthcare sub-index up
The smaller Shenzhen index ended up 0.61 per cent and start-up board ChiNext Composite index was higher by 0.416 per cent
China's economic growth cooled slightly to 6.4 per cent in fourth quarter from a year earlier, weighed down by weak investment, faltering
consumer confidence and trade war with United States, leaving 2018 growth at 6.6 per cent, weakest since 1990
The slowdown was in line with expectations, and "we can expect more supportive policies," said Larry Hu, an economist at Macquarie Capital
China's Finance Ministry on Friday announced further tax cuts for small companies as part of an effort to create jobs and promote
Around region, MSCI's Asia ex-Japan stock index was firmer by 0.11 per cent, while Japan's Nikkei index closed up 0.26 per cent
At 07:15 GMT, yuan was quoted at 6.7885 per United States dollar, 0.13 per cent weaker than previous close of 6.7795
The largest per centage gainers on main Shanghai Composite index were Citic Guoan Wine Co Ltd, up 10.17 per cent, followed by Shanghai
Hongda Mining Co Ltd, gaining 10.07 per cent, and GigaDevice Semiconductor Beijing Inc , up by 10 per cent
The largest per centage losers on Shanghai index were Changshu Fengfan Power Equipment Co Ltd, down 10.05 per cent, followed by Fujian
Anjoy Foods Co Ltd, losing 7.13 per cent, and Pengqi Technology Development Co Ltd , down by 6.23 per cent
So far this year, Shanghai stock index is up 4.7 per cent and CSI300 has risen 5.8 per cent, while China's H-share index listed in Hong
Shanghai stocks have risen 4.68 per cent this month
About 16.34 billion shares were traded on Shanghai exchange, roughly 119.8 per cent of market's 30-day moving average of 13.64 billion
The volume in previous trading session was 19.08 billion.
