Market Overview

China Stocks Gain Following Consumer Price Index

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Chinese stocks were trading higher on Friday. The Shanghai Composite Index gained 10 points, or 0.31 percent to 3,225.33, while the Shenzhen composite rose 0.04 percent to 540.01.

China’s CPI rose 0.1 percent in November from October, compared to expectations for a 0.1 percent growth. China's CPI gained 2.3 percent year-over-year in November.

iShares FTSE/Xinhua China 25 Index (ETF) (NYSEARCA: FXI) shares closed at $37.69 on Thursday, while SPDR S&P China (ETF) (NYSEARCA: GXC) rose 0.16 percent to close at $76.77.

The Dow Jones Industrial Average gained 0.33 percent, to 19,614.81, the S&P500 index rose 0.22 percent to 2,246.19, and the Nasdaq Composite gained 0.44 percent to 5,417.36.

Oil prices traded higher on Friday, with the US WTI crude futures on the NYMEX gaining 0.26 percent to trade at $50.97 a barrel.

Top market movers among the Shanghai Composite index are as follows:

  • China Petroleum & Chemical Corp (600028: SHH shares gained 1.5 percent to 5.38 CNY.
  • China Merchants Bank Co Ltd (600036: SHH) rose 1 percent to 18.92 CNY.
  • Industrial Bank Co Ltd (601166: SHH shares rose 0.6 percent to 17.02 CNY.

 

  • China Shipbuilding Industry Co Ltd (601989: SHH) shares dropped around 2.4 percent to 7.31 CNY.
  • China United Network Communications Ltd (600050: SHH) dropped 1.7 percent to 6.89 CNY.
  • Shanghai International Port Group Co Ltd (600018: SHH) fell 0.4 percent to 5.19 CNY.

Posted-In: Chinese stocks Shanghai Composite Index Shenzhen compositeNews Global Markets

 

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