China stocks rebound, blue-chip index ends at 13-yr high


SHANGHAI: China stocks rebounded on Tuesday from their biggest pullback in three weeks in the previous session, while the blue-chip CSI300 index closed at its highest in nearly 13 years.

The Shanghai Composite index ended 2.18% higher at 3,608.34, while the blue-chip CSI300 index closed up 2.85% at 5,596.35 - the highest since Jan. 15, 2008.

The smaller Shenzhen index ended up 1.76% and the start-up board ChiNext Composite index was higher by 2.829%.

Aviation sector was among the biggest winners after the civil aviation regulator said passenger traffic will recover 90% to the pre-COVID-19 level as part of its goal for 2021 at the annual meeting on Tuesday.

Shares of China Aerospace Times Electronics Co Ltd hit their daily upward limit at the close.

Consumer staples were also among top gainers after posting sharp losses a day earlier. A gauge tracking financials jumped 3.58%.

Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.45%, while Japan's Nikkei index closed up 0.09%.

However, some investors were worried about a pickup in coronavirus infections in northern China and Sino-U.S. tensions.

Authorities in China introduced new COVID-19 curbs in areas surrounding Beijing on Tuesday, putting 4.9 million residents under lockdown as new infections raised worries about a second wave in a nation that has mostly contained the disease. - Reuters

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Shanghai Composite index , CSI300

   

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