SHANGHAI: Chinese shares ended higher on Monday, lifted by gains in consumer and healthcare firms, while Shanghai's tech-focussed STAR Market rebounded as investors latched on to expectations of deeper reforms and improved liquidity.
At the close, the Shanghai Composite index was up 0.39% at 3,593.52.
The blue-chip CSI300 index was up 0.45%, the consumer staples sector rose 0.88% and the healthcare sub-index climbed 1.08%.
Shanghai's STAR Market ended 0.98% higher, climbing from near eight-month lows, after China's securities regulator said it would pilot market-making on the Nasdaq-style market.
STAR, set up in 2019 to fund China's technical innovation, currently hosts 379 listed companies worth a total of 5.3 trillion yuan ($831.57 billion) in market value.
The real-estate sub-index jumped 1.45%, reflecting continued volatility among developers' shares amid ongoing investor concerns over debt and liquidity risks in the sector.
Developer Shimao Group Holdings has put all of its real-estate projects on sale, including both residential and commercial properties, as the cash-strapped Chinese property developer accelerates asset disposals, Caixin reported.
Shimao Group unit Shanghai Shimao rose by the 10% daily limit on Monday.
Shares in China Life Insurance Co fell 1.74% in Shanghai after China's Central Commission for Discipline Inspection (CCDI) said it had placed the company's Chairman Wang Bin under investigation.
The smaller Shenzhen index ended 0.44% higher and the start-up board ChiNext Composite index was flat.
Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.58%, while Japan's Nikkei index edged down 0.03%.
At 0700 GMT, the yuan was quoted at 6.3724 per U.S. dollar, 0.07% firmer than the previous close of 6.377. - Reuters