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China stocks rise on policy support; EV shares lead gains Reuters 12/23/2020
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BEIJING/SHANGHAI, Dec 23 (Reuters) - China shares rose on Wednesday, led by gains in manufacturers and suppliers of electric vehicles, as investors were assured that policymakers would avoid sudden policy tightening in 2021 to support an economic recovery from the pandemic-induced slump. By the midday break, the Shanghai Composite index was up 0.85% at 3,385.35, while China s blue-chip CSI300 index was up 0.99%. The tech-heavy start-up board ChiNext Composite index was higher by 1.53% and Shanghai s tech-focused STAR50 index was up 0.66%. Leading the gains, the new energy vehicle sub-index and the CSI300 industrials index rose 3.17% and 2.13%, respectively.