China stocks at highest in 2 weeks as c.bank seeks to stabilize yuan [Reuters (UK)]
China Southern Airlines Company Limited (ZNH)
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Source: Reuters
China stocks at highest in 2 weeks as c.bank seeks to stabilize yuan | Reuters 3 Min Read * SSEC +1.9 pct, CSI300 +2.4 pct * China cenbank revives “counter-cyclical factor” for yuan fixing * Airline shares rally on stronger yuan * Consumer, healthcare firms up after recent slump By Andrew Galbraith SHANGHAI, Aug 27 (Reuters) - Shares in China ended at two-week highs on Monday, lifted by a stronger yuan after a tweak in the central bank’s management of the currency boosted airline stocks and other firms with heavy dollar exposure. The Shanghai Composite index closed up 1.9 percent at 2,780.90, its biggest daily percentage gain since August 7. China’s blue-chip CSI300 index ended 2.4 percent higher, while the financial sector sub-index rose 1.7 percent. The consumer staples sector gained 3.9 percent, while the real estate index was up 4.2 percent and the healthcare sub-index rose 3.9 percent. Consumer, healthcare and real estate firms have suffered during a market slump in recent weeks,
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