SHANGHAI, March 18 (Reuters) – China’s stocks rose Thursday, led by gains in consumer and healthcare companies, after the U.S. Federal Reserve pledged to maintain an appropriate monetary policy and a rapid jump forecast in U.S. economic growth this year.
** The CSI300 blue-chip index rose 0.8%, to 5,141.77, while the Shanghai Composite Index gained 0.5% to 3,463.07.
** Leading the gains, the CSI300 consumer staples index added 2%, while the CSI300 healthcare index closed 2.3% higher.
** Both sub-programs posted their third straight day of winning.
** Sentiment rose after U.S. fears of inflation had dampened stocks that were aiming to slow growth with high valuations.
** The U.S. economy is experiencing the strongest growth in nearly 40 years, the Federal Reserve said Wednesday, and central bank policymakers are pledging to keep their foot on the gas. despite the expected rise in inflation.
** Liquidity tightening is almost certain to occur as the economy recovers, leading to an inevitable correction in equities, Guosen Securities noted in a report, citing on the recent sharp fall in the A-segment market.
** But it’s still too early to stop the bull’s run, added the break.
** Around the region, the MSCI stock index in Asia outside of Japan was more robust by 1.04%, while Japan’s Nikkei index closed up 1.01%.
** At 7:11 GMT, the yuan was traded at 6.4933 per US dollar, 0.18% firmer than the previous close of 6.5052.
** As of 07:12 GMT, A shares in China were trading at a high of 33.44% over the H-listed shares in Hong Kong. (Reporting by Shanghai Newsroom; Editing by Ramakrishnan M.)