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China’s main share indexes rose on Monday morning and were on track to climb for a seventh straight session, boosted by robust gains for real estate firms as major developers reported stellar 2017 sales. The indexes were at their highest in six weeks.
At 04:08 GMT, the Shanghai Composite index was up 11.71 points or 0.35 per cent at 3,403.46. China's blue-chip CSI300 index was up 0.49 per cent, with its financial sector sub-index higher by 0.56 per cent, the consumer staples sector up 1.63 per cent, the real estate index up 4.77 per cent and healthcare sub-index down 0.01 per cent.
Chinese H-shares listed in Hong Kong fell 0.14 per cent to 12,194.77, while the Hang Seng Index was down 0.04 per cent at 30,801.06. The smaller Shenzhen index was unchanged for the day and the start-up board ChiNext Composite index was weaker by 0.26 per cent.
Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.27 per cent. The yuan was quoted at 6.4873 per US dollar, 0.02 per cent firmer than the previous close of 6.4887.
The largest percentage gainers in the main Shanghai Composite index were Zhejiang XinAn Chemical Industrial Group Co Ltd up 10.04 per cent, followed by Anhui Leimingkehua Co Ltd gaining 9.98 per cent and Easysight Supply Chain Management Co Ltd by 9.94 per cent.
The largest percentage losses in the Shanghai index were Cultural Investment Holdings Co Ltd down 10.01 per cent, followed by Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd losing 6.94 per cent and Wenyi Suntech Co Ltd down by 5.17 per cent.
So far this year, the Shanghai stock index is up 2.56 per cent, while China's H-share index is up 4.3 per cent. Top gainers among H-shares were Air China Ltd up 9 per cent, followed by Huatai Securities Co Ltd gaining 5.47 per cent and China Shenhua Energy Co Ltd up by 4.65 per cent.
The three biggest H-shares percentage decliners were Zhuzhou CRRC Times Electric Co Ltd which has fallen 2.54 per cent, New China Life Insurance Co Ltd which has lost 2.2 per cent and CRRC Corp Ltd down by 2.2 per cent.
About 13.78 billion shares have traded so far on the Shanghai exchange, roughly 90.2 per cent of the market's 30-day moving average of 15.27 billion shares a day. The volume traded was 21.31 billion as of the last full trading day.
As of 04:08 GMT, China's A-shares were trading at a premium of 27.90 per cent over the Hong Kong-listed H-shares. The Shanghai stock index is above its 50-day moving average and above its 200-day moving average.
In Hong Kong, the sub-index of the Hang Seng index tracking energy shares rose 0.5 per cent, while the IT sector rose 0.6 percent. The top gainer on Hang Seng was Country Garden Holdings Company Ltd up 7.03 per cent, while the biggest loser was Sunny Optical Technology Group Co Ltd which was down 2.62 per cent.
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