June 9, 2020 / 7:49 AM / a month ago

China stocks end higher on optimism about swift economic revival

* SSEC +0.62%, CSI300 +0.62%

* Robust northbound flows help lifting the index

* Optimism from last week continues to drive markets - analyst

BEIJING/SHANGHAI, June 9 (Reuters) - China stocks ended higher on Tuesday, tracking gains in broader markets, as easing of coronavirus-induced lockdowns in many countries continued to fuel optimism about a quick economic recovery. ** At the close, the Shanghai Composite index was up 0.62% at 2,956.11. ** Robust northbound flows worth 6 billion yuan (847.46 million) helped lift the index further, according to Refinitiv data. ** The blue-chip CSI300 index was up 0.62%, with its financial sector sub-index higher by 0.3%, the consumer staples sector up 0.71%, the real estate index up 0.07% and the healthcare sub-index up 1.91%. ** The smaller Shenzhen index ended up 0.67% and the start-up board ChiNext Composite index was higher by 1.301%. ** The same level of optimism from last week continues to drive equity market gains now, Pan Jingyi, a market strategist with IG, wrote in a note. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.91%, while Japan’s Nikkei index closed down 0.38%. ** At 0716 GMT, the yuan was quoted at 7.0781 per U.S. dollar, 0.11% weaker than the previous close of 7.0701. ($1 = 7.0800 Chinese yuan renminbi) (Reporting by Cheng Leng in Beijing, Luoyan Liu and Andrew Galbraith in Shanghai; Editing by Rashmi Aich)

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