China stocks end mixed as service sector activity picks up

Updated - January 09, 2018 at 01:10 PM.

Investors talk in front of an electronic board showing stock informations at a brokerage house in Kaifeng, Henan province, April 9, 2015. China stocks lost ground on Thursday, as mainland investors rushed to buy relatively cheaper Hong Kong shares, but some key sectors such as property found support from bargain hunters. REUTERS/China DailyCHINA OUT. NO COMMERCIAL OR EDITORIAL SALES IN CHINA

China stocks ended mixed on Tuesday, after a private survey showed growth in China's services sector activity picked up to a three-month high in November.

At the close, the Shanghai Composite index was down -6.58 points or 0.2 per cent at 3,303.04. The blue-chip CSI300 index was up 0.52 per cent, with its financial sector sub-index higher by 1.61 per cent, the consumer staples sector up 0.15 per cent, the real estate index up 0.3 per cent and healthcare sub-index up 0.15 per cent.

The smaller Shenzhen index ended down 1.89 per cent and the start-up board ChiNext Composite index was weaker by 2.18 per cent.

Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.14 per cent, while Japan's Nikkei index closed down 0.37 per cent .

At 07:01 GMT, the yuan was quoted at 6.614 per US dollar, 0.04 per cent firmer than the previous close of 6.6166.

The largest percentage gainers in the main Shanghai Composite index were Kunwu Jiuding Investment Holdings Co Ltd up 9.99 per cent, followed by Yangmei Chemical Co Ltd gaining 6.35 per cent and NINGBO BIRD Co Ltd up by 5.4 per cent.

The largest percentage losses in the Shanghai index were Lawton Development Co Ltd down 10 per cent, followed by Sichuan Langsha Holding Ltd losing 9.99 per cent and Hunan Copote Science Technology Co Ltd down by 9.98 per cent.

So far this year, the Shanghai stock index is up 6.64 per cent, while China's H-share index listed in Hong Kong is up 22.6 per cent. Shanghai stocks have declined 0.23 per cent this month.

About 20.83 billion shares were traded on the Shanghai exchange, roughly 119.0 per cent of the market's 30-day moving average of 17.50 billion shares a day. Volume in the previous trading session was 14.81 billion.

As of 07:02 GMT, China's A-shares were trading at a premium of 32.30 per cent over the Hong Kong-listed H-shares. The Shanghai stock index is below its 50-day moving average and above its 200-day moving average.

The price-to-earnings ratio of the Shanghai index was 14.83 as of the last full trading day, while the dividend yield was 2 per cent. So far this week, the market capitalisation of the Shanghai stock index has risen by 0.10 per cent to 28.82 trillion yuan.

Published on December 5, 2017 08:12