China stocks close up as new energy shares boost

  • 11/17/2021
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China stocks closed up on Wednesday, led by non-ferrous metals and new energy shares. The blue-chip CSI300 index rose 0.1% to 4,885.75, while the Shanghai Composite Index gained 0.4% to 3,537.37 points. ** Lithium stocks jumped, with Tibet Summit Resources Co , Chengxin Lithium Group and Tianqi Lithium Corp up 10% each. ** The surge led the non-ferrous metal sub-index and the new energy sub-index up more than 2.5% each. ADVERTISEMENT ** New energy vehicles and photovoltaic shares , two sub-sectors of the new energy industry, also gained. ** A U.S. judge overseeing trade issues on Tuesday overturned a decision by then-President Donald Trump to allow a reimposition of tariffs on some imported solar panels here. ** The new energy index has doubled in one year as China steps up efforts to become more green. ** High-end equipment manufacturers and defence stocks rose 2.5% and 2.1%, respectively. ** Fourty out of the first batch of 81 companies went up on the new Beijing Stock Exchange. ** Shares have been trading sideways recently, and Vanho Securities said it expected the market might remain range-bound in the near future with investors searching for directional clues. ** It said policy easing expectations would rise as the year comes to an end, and suggested to buy blue-chips.

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