China’s stocks rise on energy and transportation gains

China’s stocks rise and closed higher on Tuesday, led by gains in energy and transportation companies, although Chinese-American tensions have limited further gains.

The CSI300 index, which includes the largest companies listed in Shanghai and Shenzhen, had a positive change of 0.05%, while the Shanghai index increased by 0.32%.

The energy sub-index and the transportation sub-index closed up 2.0% and 2.8%, respectively.

The United States Senate voted 86-11 on Monday to open debate on a measure that would allocate more than $ 110 billion for basic and advanced technology research over five years in the face of increasing competitive pressure from China economy.

In TOKYO, the Nikkei index advanced 2.09% to 28,406 points.
In HONG KONG, the HANG SENG index rose 1.42% to 28,593 points.
In SHANGHAI, the SSEC index gained 0.32% to 3,529 points.
The CSI300 index, which includes the largest companies listed in SHANGHAI and SHENZHEN, increased 0.05%, to 5,187 points.
In Seoul, the KOSPI index appreciated by 1.23%, to 3,173 points.
In TAIWAN, the TAIEX index increased by 5.16%, to 16,145 points.
In SINGAPORE, the STRAITS TIMES index appreciated 2.04%, to 3,142 points.
In SYDNEY, the S&P/ASX 200 index advanced 0.60%, to 7,066 points.

As the Chinese retail sector recovers from COVID-19-induced market caution, China said it will begin a series of promotional events in May, including a new consumer goods expo in southern Hainan province.

The scenario may still be changing during the week and affect the Asian economy which may have an effect on China’s stocks rise

Mkt Adm