SHANGHAI: China stocks closed up on Wednesday, reopening after the Mid-Autumn Festival holiday, as gains in property and financial shares offset losses in consumer-related stocks.
The Hong Kong market is closed for a holiday.
The blue-chip CSI 300 Index ended higher by 0.4%, while the Shanghai Composite Index rose 0.5% before dropping below the psychologically important 2,700 level.
The financial sector sub-index and the real estate index were up 1.1% and 2.4%, respectively, while the consumer staples sector fell 2.1%.
Liquor shares continued to decline, reflecting weak domestic demand, with Kweichow Moutai down 2.8% at the lowest level in more than four years.
China’s announcement to join the global push towards raising the retirement age also acted as a drag on sentiment.
The smaller Shenzhen index ended down 0.35% and the start-up board ChiNext Composite index was weaker by 0.11%.
Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.13%, while Japan’s Nikkei index closed up 0.49%.
At 0703 GMT, the yuan was quoted at 7.0959 per US dollar, almost unchanged from the previous close of 7.0958.
Globally, market participants await the Federal Reserve’s interest rate decision, which could affect sentiment and volatility in Hong Kong and China stocks.
Source: Brecorder
