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2021-06-04

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China stocks end higher on financial boost, but post weekly losses

SHANGHAI, June 4 (Reuters) - China stocks ended higher on Friday on gains for financial firms, follo

China stocks end higher on financial boost, but post weekly losses

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.h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina stocks end higher on financial boost, but post weekly losses\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-04 15:32</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>SHANGHAI, June 4 (Reuters) - China stocks ended higher on Friday on gains for financial firms, following Beijing's stamp duty cut proposal, though they post weekly losses amid renewed worries over Sino-U.S. tensions.</p>\n<p>The blue-chip CSI300 index rose 0.5%, to 5,282.28, while the Shanghai Composite Index firmed 0.2% to 3,591.84 points.</p>\n<p>Shenzhen's start-up board ChiNext rose 1.3%, while Shanghai's tech-focused STAR50 index added 1.2%.</p>\n<p>Financial firms led the gains on Friday.</p>\n<p>China has proposed an \"appropriate reduction\" to stamp duty，said a spokesperson for the Legislative Affairs Commission of the National People's Congress Standing Committee.</p>\n<p>Shares in China's brokerages firms rose, with the CSI SWS securities index and the CSI300 financials index&nbsp;both up 0.8%.</p>\n<p>Though for the week, CSI300 lost 0.7%, while SSEC slipped 0.2%, after gaining 3.6% and 3.3% in the previous week, respectively.</p>\n<p>The weekly retreat came as investors locked in profits following a robust rally in the past weeks, even as Sino-U.S. tensions weighed.</p>\n<p>U.S. President Joe Biden signed an executive order on Thursday that bans U.S. entities from investing in dozens of Chinese companies with alleged ties to defence or surveillance technology sectors.</p>\n<p>Separately, the investor reaction was also tepid to China's major birth policy shift as analysts and traders saw limited impact.</p>\n<p>\"I believe it will have an impact on China's longer term economic growth rather than on the stock market,\" said Luo Kun, investment manager at Chasing Securities' equities investment arm.</p>\n<p>\"The policy would have limited impact on those couples who already have two children,\" he added.</p>\n<p>Consumer and healthcare firms, seen benefiting from the policy, were mixed for the week, with the CSI300 consumer staples index and the CSI300 healthcare index&nbsp;down 2.7% and up 0.5%.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"399001":"深证成指","399006":"创业板指","000001.SH":"上证指数"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2140475472","content_text":"SHANGHAI, June 4 (Reuters) - China stocks ended higher on Friday on gains for financial firms, following Beijing's stamp duty cut proposal, though they post weekly losses amid renewed worries over Sino-U.S. tensions.\nThe blue-chip CSI300 index rose 0.5%, to 5,282.28, while the Shanghai Composite Index firmed 0.2% to 3,591.84 points.\nShenzhen's start-up board ChiNext rose 1.3%, while Shanghai's tech-focused STAR50 index added 1.2%.\nFinancial firms led the gains on Friday.\nChina has proposed an \"appropriate reduction\" to stamp duty，said a spokesperson for the Legislative Affairs Commission of the National People's Congress Standing Committee.\nShares in China's brokerages firms rose, with the CSI SWS securities index and the CSI300 financials index both up 0.8%.\nThough for the week, CSI300 lost 0.7%, while SSEC slipped 0.2%, after gaining 3.6% and 3.3% in the previous week, respectively.\nThe weekly retreat came as investors locked in profits following a robust rally in the past weeks, even as Sino-U.S. tensions weighed.\nU.S. President Joe Biden signed an executive order on Thursday that bans U.S. entities from investing in dozens of Chinese companies with alleged ties to defence or surveillance technology sectors.\nSeparately, the investor reaction was also tepid to China's major birth policy shift as analysts and traders saw limited impact.\n\"I believe it will have an impact on China's longer term economic growth rather than on the stock market,\" said Luo Kun, investment manager at Chasing Securities' equities investment arm.\n\"The policy would have limited impact on those couples who already have two children,\" he added.\nConsumer and healthcare firms, seen benefiting from 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