Chinese shares powered higher on Tuesday, pushing the benchmark Shanghai Composite index to its highest close in nearly 13 months, as a faster rise in housing prices added to hopes that China’s stimulus policies are translating into stronger growth.
At the close, the Shanghai Composite index was up 2.39 percent at 3,253.60. It was the strongest daily gain for the index in more than two weeks, and its highest close since March 22, 2018. The blue-chip CSI300 index was up 2.77 percent, its biggest daily rise since March 29. Gains were led by the financial sector sub-index, which rose 3.56 percent.
The consumer staples sector ended up 2.45 percent, the real estate index added 2.25 percent and the healthcare sub-index closed 1.87 percent higher.
The smaller Shenzhen index ended up 2.1 percent and the start-up board ChiNext Composite index was higher by 1.84 percent.