China shares edge higher, healthcare stocks jump on vaccine hopes

Contributor
Andrew Galbraith Reuters
Published
Credit: REUTERS/ALY SONG

China shares inched higher on Tuesday, supported by strong gains in healthcare stocks on rising hopes for a coronavirus vaccine, although profit-taking after the previous session's rally kept gains in check.

SSEC, CSI300 +0.07%, HSI 1.9%

Healthcare shares surge as vaccine hopes rise

Hong Kong shares rise on improved global risk appetite

Alibaba's HK shares soar on news of Ant Financial IPOs

SHANGHAI, July 21 (Reuters) - China shares inched higher on Tuesday, supported by strong gains in healthcare stocks on rising hopes for a coronavirus vaccine, although profit-taking after the previous session's rally kept gains in check.

** At the midday break, the Shanghai Composite index .SSEC was up 0.07% at 3,316.56, after a 3.1% gain on Monday. The blue-chip CSI300 index .CSI300 also rose 0.07%.

** Healthcare shares outperformed the broader market amid rising global hopes for coronavirus vaccines following promising studies. A sub-index tracking the sector .CSI300HC jumped 2.78%.

** The smaller Shenzhen index .SZSC was up 0.27% and the start-up board ChiNext Composite index .CNT was higher by 0.76%.

** Hong Kong shares rose, as news of promising vaccine studies and progress by European Union leaders in reaching a deal on a massive stimulus plan lifted global risk appetite.

** Chinese H-shares listed in Hong Kong .HSCE rose 1.27% to 10,426.11, while the Hang Seng Index .HSI was up 1.88% at 25,529.02.

** E-commerce giant Alibaba Group Holding's Hong Kong shares 9988.HK jumped 6.59% after Ant Group, its fintech arm, said it has started the process of a dual listing in Hong Kong and on Shanghai's Nasdaq-style Star Market.

** Hong Kong shares shrugged off concerns over rising political tensions between China and the United Kingdom after Britain announced it would suspend its extradition treaty with Hong Kong.

** Around the region, MSCI's Asia ex-Japan stock index .MIAPJ0000PUS was firmer by 1.76% while Japan's Nikkei index .N225 was up 0.78%.

** The yuan CNY=CFXS was quoted at 6.9936 per U.S. dollar, 0.03% weaker than the previous close of 6.9915.

** So far this year, the Shanghai stock index is up 8.66%, while China's H-share index is down 7.8%. Shanghai stocks have risen 11.04% this month.

(Reporting by Andrew Galbraith; Editing by Rashmi Aich)

((Andrew.Galbraith@tr.com; +86 21 2083 0079; Reuters Messaging: andrew.galbraith.thomsonreuters.com@reuters.net ; Twitter: https://twitter.com/apgalbraith))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More