China blue-chips end higher on rising factory activity

SHANGHAI: China blue-chip shares finished higher on Monday after a private survey showed the fastest acceleration in Chinese factory activity in nearly a decade, the latest indication of the country's robust economic recovery from lockdowns.

The blue-chip CSI300 index closed up 0.54%, with the consumer staples sector up 0.24% and the real estate index up 0.47%.

The Shanghai Composite index was little changed, closing 0.02% higher at 3,225.12.


The smaller Shenzhen index ended up 1.08% and the start-up board ChiNext Composite index was higher by 1.978%.

Activity in China's factory sector accelerated at the fastest pace in nearly a decade in October as domestic demand surged, a private business survey showed on Monday, adding further momentum to the recovery of the world's second-largest economy.

Around the region, MSCI's Asia ex-Japan stock index was weaker by 1.5%, while Japan's Nikkei index closed up 1.39%.

At 0706 GMT, the yuan was quoted at 6.693 per U.S. dollar, 0% firmer than the previous close of 6.6932.

The largest percentage gainers in the main Shanghai Composite index were Whirlpool China Co Ltd, up 10.07%, followed by Dr.Peng Telecom & Media Group Co Ltd, gaining 10.06% and COSCO SHIPPING Development Co Ltd , up by 10.05%.

The largest percentage losers in the Shanghai index were Huadian Energy Co Ltd down 10.06%, followed by Sichuan Xichang Electric Power Co Ltd losing 10.05% and Shanghai Shenqi Pharmaceutical Investment Management Co Ltd down by 10.03%.

So far this year, the Shanghai stock index is up 5.7% and the CSI300 has risen 15.2%, while China's H-share index listed in Hong Kong is down 11%. Shanghai stocks have risen 0.02% this month.