Chinese stocks close higher in hopes of economic recovery

Chinese stocks close higher in hopes of economic recovery

Chinese stocks close higher in hopes of economic recovery

SHANGHAI (Reuters) – Chinese stocks rose on Tuesday, driven by a recovery in the tech sector, boosted by hopes for a robust recovery in the PRC economy.

The Shanghai Composite Index rose 0.21% to 3.224.36 points, while the blue-chip CSI300 Index added 0.22% to 4.591.80 points.

The financial sector sub-index dropped 0.69%, the consumer goods sector added 0.27%, the real estate index fell 0.55%, and the health sector rose 1.21%.

The ChiNext Composite Startup Index rose 1.67%.

The rally was led by shares of Anhui Tongfeng Electronics, Jiangsu SINOJIT Wind Energy Technology and Xinjiang Korla Pear, each adding 10.1%.

The Hong Kong Hang Seng Index dropped 0.85% to 23.275.53 points, while the Hang Seng China Enterprises Index sank 1.09% to 9.281.52 points.

(Reuters Office in Shanghai. Translated by Olga Beskrovnova. Editor Marina Bobrova)

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