SHANGHAI: China’s blue-chip stock index ended higher on Thursday as gains in industrial and financial sectors offset weakness in consumer staples firms, while energy shares rose thanks to strong oil and coal prices.
At the close, the Shanghai Composite index was up 0.75% at 3,675.02 points. The blue-chip CSI300 index was up 0.58%, overcoming small losses earlier in the day.
The consumer staples sector ended 0.92% lower amid concern over a resurgence of COVID-19 cases, but those losses were outweighed by a 0.78% gain in the financial sector and a 1.23% rise in industrial shares
An index tracking the coal sector surged 6.27% amid a government crackdown on illegal mining that has lifted prices, while a broader energy index added 5%.
The smaller Shenzhen index ended up 0.53% and the start-up board ChiNext Composite index was 0.742% higher. Also in positive territory were A-shares of Chinese companies that were reported on Wednesday to be on the verge of being added to US investment and export blacklists.
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