The CSI300 index rose 0.6 per cent to 5,027.60 at the end of the morning session, while the Shanghai Composite Index gained 0.6 per cent to 3,414.72.
The tech-heavy start-up board ChiNext rose 2.2 per cent, while Shanghai’s STAR50 index added 1.8 per cent.
Leading the gains, the CSI300 industrials index and the CSI300 IT index rose 1.8 per cent and 1.5 per cent, respectively.
China will maintain policy support for its economic recovery, avoiding a sudden shift in policy, to help keep economic growth within a reasonable range in 2021, the Xinhua news agency said on Friday, after a meeting of top leaders ended.
The annual Central Economic Work Conference, a gathering of top leaders and policymakers to chart the economy’s course in 2021, is being watched by investors amid speculation that Beijing would make policy changes amid accelerating growth, following a virus-induced slump earlier this year.
“Setting the tone for stable and continued policies lays a foundation for a market rally, providing opportunities for both growth and cyclical firms,” Southwest Securities analysts said in a note.
Bucking the broad strength, surveillance camera maker Hikvision and top chipmaker SMIC eased on index exclusion and US blacklisting.
SMIC said on Sunday that being put on a US trade blacklist would pose a significant adverse impact to its research and development in its 10-nanometer and more advanced chip technology. [nP8N2IW017
The Hang Seng index dropped 0.2 per cent to 26,444.19, while the Hong Kong China Enterprises Index lost 0.1 per cent to 10,472.62.
Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.48 per cent while Japan’s Nikkei index was down 0.42 per cent.
