SHANGHAI: China stocks edged up on Monday, with investors rotating from property companies back into tech and healthcare, sectors that Beijing hopes will be new engines of growth.
The blue-chip CSI300 index rose 0.3 percent, to 3,687.61, while the Shanghai Composite Index also gained 0.3 percent, to 3,536.93 points.
But reflecting investor caution, trading volume in Shanghai shrank to a one-month low.
A slew of data in coming weeks is likely to show China’s economic performance remains sluggish, reinforcing expectations that Beijing will implement more stimulus measures in coming months.
nvestors appeared on Monday to favour sectors seen benefiting from a government-engineered economic restructuring, as Premier Li Keqiang vowed over the weekend to ruthlessly deal with “zombie” firms.
Shenzhen’s start-up board ChiNext, which hosts many of China’s hi-tech firms, jumped nearly 2 percent, while an index tracking major healthcare companies advanced 2.1 percent, with traditional Chinese medicine maker Beijing Tongrentang jumping the maximum allowed 10 percent.
