Chinese stocks post monthly gain on hopes of better Beijing data, fresh stimulus
Updates to closing prices
By Jiaxing Li
Hong Kong, Nov 29 (Reuters) -Chinese stocks rallied on Friday, ending the month higher as investors anticipated positive factory data this weekend and more stimulus from a key policy meeting next month.
** The blue-chip CSI300 index .CSI300 closed up 1.14%, ending a two-week losing streak for weekly moves, and gaining 0.7% in November. The Shanghai Composite index .SSEC was up 0.93% at 3,326.46.
** The chip sector sub-index .CSI931865 rose 2.38%, the consumer staples sector .CSI000912 added 0.95%, and the real estate index .CSI000952 climbed 0.75%.
** Hong Kong equities also edged up, with the benchmark Hang Seng Index .HSI climbing 0.29% to 19,423.61.
** However, being more sensitive to international investors' sentiment towards China, the stocks registered a second month of losses amid looming geopolitical uncertainties and tariff risks.
** China's factory activity likely expanded modestly for a second straight month in November as the stimulus trickled through, a Reuters poll showed, though threats of new U.S. trade tariffs clouded the outlook.
** The official purchasing managers' index (PMI) due Saturday is expected to come in at 50.2, higher than October's 50.1 and above the 50-point threshold that separates growth from contraction in activity.
** Meanwhile, the long-running property downturn is expected to see some improvement, with home prices set to fall at a slower pace this year and next to stabilise in 2026, according to a separate Reuters poll.
** Investors are also eyeing December's Central Economic Work Conference, which could provide more details about the fiscal budget and the scale of stimulus for consumption for the next year, according to Kevin Liu, managing director and strategist at CICC Research.
** The meeting will be the short-term focus, and the market performance will likely fluctuate around expectations, he added.
Reporting by Hong Kong Newsroom; Editing by Sumana Nandy and Rashmi Aich
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