Chinese stocks rebounded across the board on Thursday as investors snapped up healthcare and property shares battered by a recent selloff, while tech firms rallied on hopes of more government support.
Assistance for the tech sector would mark the latest in a series of growth boosting measures being rolled out by Beijing as an escalating trade war with the United States puts more pressure on China’s already slowing economy.
The Shanghai Composite index ended 1.9 percent higher, while China’s blue-chip CSI300 index closed up 2.5 percent, recouping Wednesday’s losses.
Gains were broad based, with the CSI300’s financial sector sub-index rising 2.3 percent, consumer staples up 3 percent, real estate up 3.9 percent and healthcare up 3.8 percent.
Source : Reuters