China shares end higher, virus vaccine hopes boost healthcare stocks

Credit: REUTERS/ALY SONG

China shares ended higher on Tuesday, lifted by healthcare stocks as global hopes for a coronavirus vaccine firmed, but profit-taking following the previous session's rally checked gains.

SHANGHAI, July 21 (Reuters) - China shares ended higher on Tuesday, lifted by healthcare stocks as global hopes for a coronavirus vaccine firmed, but profit-taking following the previous session's rally checked gains.

** At the close, the Shanghai Composite index .SSEC was up 0.2% at 3,320.89, after flirting with small losses in the afternoon session. The index jumped 3.1% a day earlier.

** The blue-chip CSI300 index .CSI300 added 0.23% with the healthcare sub-index .CSI300HC soaring 3.95%, on rising global hopes for coronavirus vaccines following promising studies.

** The smaller Shenzhen index .SZSC gained 0.72% and the start-up board ChiNext Composite index .CNT was 1.45% higher.

** Around the region, MSCI's Asia ex-Japan stock index .MIAPJ0000PUS was firmer by 1.89%, while Japan's Nikkei index .N225 closed up 0.73%.

** At 0701 GMT, the yuan CNY=CFXS was quoted at 6.9911 per U.S. dollar, 0.01% firmer than the previous close of 6.9915.

** The largest percentage gainers in the main Shanghai Composite index were Jiangsu Highhope International Group Corp 600981.SS, up 10.12%, followed by BEH-Property Co Ltd 600791.SS, gaining 10.12% and Ningxia Xinri Hengli Steel Wire Rope Co Ltd 600165.SS, up by 10.08%.

** The largest percentage losses in the Shanghai index were of Xinjiang Youhao Group Co Ltd 600778.SS down 10.06%, followed by Xishui Strong Year Co Ltd Inner Mongolia 600291.SS and Luyin Investment Group Co Ltd 600784.SS, both down 9.97% each.

** So far this year, the Shanghai stock index is up 8.9% and the CSI300 has risen 14.5%, while China's H-share index listed in Hong Kong is down 6.7%. Shanghai stocks have risen 11.26% this month.

** As of 0702 GMT, China's A-shares were trading at a premium of 32.79% over Hong Kong-listed H-shares.

** So far this week, the market capitalisation of the Shanghai stock index has risen by 3.20% to 38.00 trillion yuan ($5.44 trillion).

($1 = 6.9900 Chinese yuan renminbi)

(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.

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