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* Shanghai Composite and CSI300 gain + 0.4%
* China's GDP in the second quarter is in line with expectations
* The rising share of shares raises a broader index
SHANGHAI, July 15 (Reuters) – Chinese stocks tightened on Monday as Chinese retail sales and industrial output are optimistic, second-quarter economic data meets expectations, while tech stocks rebounded after sharp declines in China's stock market. the previous week.
** At closing, the Shanghai Composite Index was up 0.4% at 2,942.19. ** The first-order CSI300 index climbed 0.41%. The financial sector subindex rose 0.17%, the consumer staples sector closed up 0.07%, the real estate index down 0.11% and the health sub-index up 0.35%. ** China's economic growth slowed down to 6.2% in the second quarter, its lowest pace in at least 27 years, as domestic and foreign demand weakened in the face of mounting pressure US trade.
However, badysts have anticipated the slowest pace since the first quarter of 1992, the oldest quarterly data ever recorded and more optimistic production and retail sales for the month of June showed signs of improvement. ** Technology companies posted the largest gains of the day, with an IT subindex adding 2.32% and a computer company up 3.09%. Tech's shares were put under pressure last week by 21 companies who asked their investors to subscribe to their initial public offering on the new, highly technology-driven STAR market in China, diverting funds from the market. ** "The technical names had a tough performance last week, which given today's macroeconomic data was undoubtedly excessive," said Gerry Alfonso, director of Shenwan Hongyuan Securities, in a note. ** In order to support the sentiment of the financial markets, China's central bank announced that it would lend 200 billion yuan to financial institutions through its one-year medium-term credit facility (MLF). , postponing a series of loans of 188.5 billion yuan maturing Monday, and inject an additional 11.5 billion yuan in cash over a year. ** "The rotation itself underscores our view that the PBOC is there to provide liquidity when needed," said Frances Cheung, head of macroeconomic strategy at Westpac in Singapore. She indicated that the Multilateral Fund's supplementary lending was for small banks, which have experienced difficult financing conditions in recent weeks as a result of the takeover of a troubled regional lender. ** Across the region, the MSCI Asia-Ex-Japan Stock Index strengthened 0.29%, while the Nikkei Japan Index closed up 0.2 %. ** At 07:16 GMT, the yuan was quoted at 6.8727 for one US dollar, 0.11% firmer than the previous close of 6.8805. ** The Jiangsu Chengxing Phosph Chemical Co. Ltd. (+ 0.05%) recorded the largest percentage increase, followed by Shanghai Wondertek Software Co Ltd (10.03%) and Beken Corp (+ 10%). ** The largest percentage losses of the Shanghai index were Shenyang Commercial City Co Ltd (9.96%), followed by Angel Yeast Co Ltd (7.28% down) and Hunan Baili Engineering Sci & Tech Co Ltd (5.29%). %. ** So far this year, the Shanghai stock index rose 18% and the CSI300 by 27%, while the Chinese H share index listed in Hong Kong was up 7.1%. Shanghai shares fell 1.23% so far this month. (Report by Andrew Galbraith, edited by Sherry Jacob-Phillips)
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