China stocks slip as new coronavirus cases near six-week high

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SHANGHAI: China stocks dipped on Monday, as the country's new daily coronavirus cases approached a near six-week high.

China's blue-chip CSI300 index was down 0.25%, with its financial sector sub-index lower by 0.54%, the consumer staples sector down 0.6%, the real estate index up 0.27% and the healthcare sub-index up 0.71%.

China's northeast Heilongjiang province, which borders Russia, has become the new battleground against the coronavirus as authorities reported the highest number of new daily cases in nearly six weeks, driven by infected travellers from overseas. March data demonstrated the government has been quietly loosening policy more than what it may appear by looking at the magnitude of rate and RRR cuts," Goldman Sachs said in a research note, adding that it reflected a preference for policy flexibility amid uncertainties from the pandemic.The largest percentage gainers in the main Shanghai Composite index were Liuzhou Liangmianzhen Co Ltd, up 10.12%, followed by Shanghai Lonyer Fuels Co Ltd, gaining 10.

 

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