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China's shares bounce after 4-day rout, infrastructure leads gains


Tuesday, 7 August 2018 15:38 WIB

SahamChinaShanghai compositeCSI 300 Blue-Chip


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Shares in China rebounded on Tuesday following a heavy four-day selloff, as investors picked up battered stocks while infrastructure firms were bolstered by expectations of increased spending on public works projects.

The Shanghai Composite index jumped 74.14 points, or 2.7 percent, at 2,705.16.

The blue-chip CSI300 index was up 2.92 percent, its biggest percentage jump since August 2016.

Its financial sector sub-index rose 2.64 percent, the consumer staples sector gained 2.76 percent, the real estate index jumped 3.8 percent and the healthcare sub-index ended 1.85 percent higher.

Shares in healthcare and consumer firms have been hit hard in recent days amid a scandal over vaccines that has undermined consumer confidence, while property firms have suffered from expectations of measures to rein in property prices.

The smaller Shenzhen index ended up 2.75 percent and the start-up board ChiNext Composite index was higher by 2.68 percent. Despite Tuesday’s surge, the Shanghai stock index is down 16 percent this year, while the CSI300 has fallen 16.4 percent.

Source : Reuters


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