SHANGHAI: China stocks closed slightly higher on Thursday, snapping a two-session losing streak, as gains for big-cap infrastructure stocks offset a weak resources sector.
The blue-chip CSI300 index rose 0.2 per cent, to 3,436.54, while the Shanghai Composite Index gained 0.1 per cent to 3,208.45 points.
Analysts attributed the softness in resources stocks to a continued retreat in China’s commodities futures market after a dramatic rally. A strong US dollar and worries over capital outflows also curbed investor appetites.
With the dollar index still hovering near a 13-1/2 year high against a basket of currencies, there are persistent fears of yuan depreciation, as global investors continue to bet US President-elect Donald Trump’s policies will result in higher inflation and stronger US economic growth.
Shares were down for most of the day, until a late rally in infrastructure stocks helped tip indexes into positive territory.
