China Stocks End Higher on Upbeat Data and Trade Bloc
SHANGHAI, Nov 16 (Reuters) - China stocks ended higher on Monday after upbeat data pointed to a continued recovery in the world’s second-largest economy, with the establishment of a China-backed trade bloc aiding sentiment.
The blue-chip CSI300 index rose 1.0%, to 4,904.17, while the Shanghai Composite Index gained 1.1% to 3,346.97 points.
The tech-heavy start-up board ChiNext added 0.2%, while the Shanghai STAR50 index rose 0.7%.
China’s factory output rose faster-than-expected in October and retail sales continued to recover although at a slower-than-forecast pace.
Investors also welcomed the establishment of a China-backed trade bloc that excludes the United States.
Fifteen Asia-Pacific economies formed the world’s largest free trade bloc on Sunday, which had left a rival Asia-Pacific grouping under President Donald Trump.
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Edited 16 Nov 2020, 17:19
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