China stocks extend gains, lifted by property and logistics

China stocks extend gains, lifted by property and logistics

Markets, Shanghai Composite Index

19/11/2021 11:32:00 AM

China stocks extend gains, lifted by property and logistics

SHANGHAI: China shares extended gains and ended higher on Friday, thanks largely to sharp rises in the property and logistics shares.

Strength in the Chinese shares on Friday afternoon was led by gains in the property sector, with the real estate index jumping 4.88% at the close, as some market participants were discussing possible policy easing for the battered property industry.China's property sector, a major driver of economic growth, has weakened sharply this year as Beijing cracks down on speculation to lower financial risks.

"There has also been selective relaxation in housing loans at a localized level. However, so far these measures are rather piecemeal and with clear priority of stabilizing the property sector and supporting the SMEs under macro weakness," Morgan Stanley said in its 2022 China equity strategy outlook.

"Equity market is naturally not going to benefit from these measures meaningfully at this point."The logistic sector was among the other top gainers, with the CSI 300 transportation index up by 1.72% after some companies including STO Express and Yunda Holdings reported robust revenue gains in October.

Do Covid-19 self-test before and after holiday, recommends expert | Malay Mail

The smaller Shenzhen index ended up 1.19% and the start-up board ChiNext Composite index was higher by 1.04%.However, some analysts said market participants were wary of any future developments in Sino-U.S. relations after top leaders from the two countries held a virtual meeting earlier this week.

U.S. President Joe Biden said on Thursday the United States was considering a diplomatic boycott of the Beijing Olympics. - Reuters

Read more: The Star »

Fight on expressway: Police detain five men [NSTTV] | New Straits Times

GEORGE TOWN: Police have detained five men to assist investigations into a fight between a group of men during a road accident at the Tun Dr Lim Chong Eu Expressway here yesterday. Read more >>

Malaysian rapper Namewee defends China satire ‘Fragile’ as views hit 30 million | Malay MailTAIPEI, Nov 16 — A rapper who penned a viral Mandarin pop song poking fun at Chinese nationalists said Monday he had no regrets about being blacklisted by Beijing as his track hit more than 30 million views on YouTube. Released last month, Fragile by Malaysian rapper Namewee, featuring Australian... Crazy man..

China State Grid chief warns of winter power supply pressure | Malay MailBEIJING, Nov 17 —The chairman of State Grid Corporation of China, the country’s top electricity network operator, today warned that power loads were expected to reach new highs in the oncoming winter, a company statement said. China has recently managed to ease its worst electricity shortages...

Congressional advisory body urges harder US stance on Taiwan, China investment | Malay MailWASHINGTON, Nov 17 — A bipartisan advisory body to the US Congress today recommended that lawmakers take “urgent measures” to strengthen the credibility of US military deterrence of any potential Chinese aggression against Taiwan. The influential US-China Economic and Security Review...

China editor says he does not think Peng faces retribution | Malay MailBEIJING, Nov 19 — A well-connected Chinese state media editor on Friday weighed in on the scandal involving Chinese tennis star Peng Shuai and her accusation of sexual assault by a former vice premier, saying he does not believe she has been the target of retribution. Former doubles world number...

Serena terkejut kehilangan bintang tenis China | Harian MetroLos Angeles: Serena Williams menyertai rasa kebimbangan terhadap bintang China, Peng Shuai yang kehilangannya diselubungi misteri sejak mendakwa seorang ahli politik China menyerangnya secara seksual.

NST Leader: US-China talks | New Straits TimesThe virtual meeting between American President Joe Biden and Chinese President Xi Jinping on Monday may have given progress a whole new meaning: going nowhere.