SHANGHAI: China’s blue-chip share index shed early losses to end higher on Tuesday, helped by a boost from healthcare and consumer staples, though weak performances in industrials weighed after data showed a slowing pace of profit growth in the sector.
At the close, the blue-chip CSI300 index was up 0.26%, while the Shanghai Composite index ended 0.04% higher at 3,442.61.
Healthcare firms led gains as overseas coronavirus infections surged, with a sub-index tracking the sector up 2.48% on the day. The consumer staples sector gained 0.91% and the real estate index rose 0.38%. But the CSI300 industrials sub-index fell 1.43% after new data showed slowing profit growth in the sector.
Profit at China’s industrial firms grew sharply in March from a low base a year earlier, as demand for raw materials surged along with the economic recovery, though the pace of growth has slowed, official data showed on Tuesday.
The smaller Shenzhen index ended unchanged for the day and the start-up board ChiNext Composite index was 0.56% higher.
So far this year, the Shanghai stock index slipped 0.9% and the CSI300 has fallen 2.3%, while China’s H-share index listed in Hong Kong rose 2.2%. Shanghai stocks have risen 0.02% this month. As of 0713 GMT, China’s A-shares were trading at a premium of 34.12% over the Hong Kong-listed H-shares.
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