SHANGHAI, Dec. 30 (Reuters) – China’s blue-chip index and ChiNext’s starting board both hit the highest level in more than five years on Wednesday, as Asian stocks hit a record in hopes of a strong economic recovery next -year.
** The CSI300 blue-chip index rose 1.4% to 5,113.71 points, the near-highest level since June, 2015. The Shanghai Composite Index rose 1.1% to 3,414.45 points.
** Shenzhen starter board jumped over 3%, as investors bet on green technologies.
** Investors moved the move by U.S. President Donald Trump’s administration to strengthen an order of action banning U.S. investment in Chinese companies with military support reportedly.
** FTSE global index publisher Russell said it may remove more Chinese companies from their indexes in response.
** Climbed most regions, with energy and resources getting the most. Investors expect a strong economic recovery as several countries try to spread the coronavirus with vaccines.
** Jump environmental protection sections too. Beijing has pledged to reduce carbon emissions to meet the government’s green commitment.
** Shares in battery giant Contemporary Amperex Technology Co Ltd jumped 10.4% to record a high close on its production expansion plans.
** Some internet companies, which saw evidence of panic sales earlier in the week as a result of the anti-trust investigation in Beijing, have joined Alibaba Group, and its affiliate Ant Group, quickly Wednesday. ** Hundsun tech, which was partly owned by Alibaba, jumped 7.5%. ** Ant Group Co Ltd is considering folding most of its online finance businesses, including consumer loans, into a property company that would be regulated as traditional finance companies, said two with direct experience of the case. (Reporting by Shanghai Newsroom; Editing by Vinay Dwivedi)