China Stocks Surge Amid Factory Expansion and Strategic Gains
Chinese stocks saw an uplift, fueled by financial and healthcare sectors, as a survey indicated expansion in factory activity for June. Financial shares, especially in insurance and state-owned banks, posted strong recovery. Healthcare stocks rose on government support, while artificial intelligence and real estate dipped.
China's stock market experienced an upswing on Tuesday, driven by robust performances in the financial and healthcare sectors. The rally followed a private survey revealing an expansion in factory activity for the month of June.
The blue-chip CSI300 Index ended the day 0.2% higher, with the Shanghai Composite Index gaining 0.4%. Notably, financial shares rebounded after a three-session slump, outstripping the CSI 300 Index with a 7% rise this year.
Healthcare stocks grew by 1.2% after Beijing announced measures to boost the innovative drug sector. Conversely, artificial intelligence and real estate stocks decreased by 0.9% each. Investors are eyeing the upcoming half-year earnings season to assess corporate improvements.
(With inputs from agencies.)
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