China shares end higher as investors look to policy easing

10/15/2021 | 03:45am

SHANGHAI, Oct 15 (Reuters) - Chinese shares ended higher on Friday, supported by gains in tech and financial firms, but sentiment remained cautious as investors balanced expectations of policy easing against worries of a slowing economy.

** At the close, the Shanghai Composite index was up 0.4% at 3,572.37. ** The blue-chip CSI300 index was up 0.38%, with its financial sector sub-index higher by 0.36% and the info-tech sector up 1.26%. ** China's central bank rolled over maturing medium-term loans on Friday and kept their interest rates unchanged, as investors continue to speculate policymakers might need to ease monetary settings to support the economy amid risks from stagflation.

** "We see some early signs of easing measures from policy makers; that said, the scale and timing of these measures have not been enough to meaningfully reset the caution in the market so far," analysts at Morgan Stanley said in a note.

** Energy shares jumped, with the CSI300 sub-index tracking the sector up 3.37% and the coal sub-index up 4.02% as thermal coal prices hit record highs.

** The real estate index fell from small gains to end 0.12% lower, with Chinese authorities expected to largely maintain property curbs, though may soften tactics aimed at the troubled sector.

** The smaller Shenzhen index ended up less than 0.1% on the day and the start-up board ChiNext Composite index was higher by 1.884%. ** Around the region, MSCI's Asia ex-Japan stock index was firmer by 1.15%, while Japan's Nikkei index closed up 1.81%. ** At 07:00 GMT, the yuan was quoted at 6.4288 per U.S. dollar, 0.18% firmer than the previous close of 6.4404. ** So far this year, the Shanghai stock index is up 2.9% and the CSI300 has fallen 5.4%, while China's H-share index listed in Hong Kong is down 16.9%. Shanghai stocks have risen 0.12% this month. (Reporting by Andrew Galbraith; Editing by Subhranshu Sahu)

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