China markets edge up

SHANGHAI, Dec 21 (Reuters): China stocks rose on Thursday, as investors were inspired by Beijing's commitment to maintain steady economic growth next year while deepening structural reforms and curbing financial risks.

The Chinese government will push forward with structural supply-side reforms and maintain neutral monetary policy in 2018 as it looks to improve the quality of growth, the Xinhua news agency said on Wednesday, citing top leaders at a key economic planning meeting.

At the close, the Shanghai Composite index was up 13.08 points or 0.4 per cent at 3,300.68. The blue-chip CSI300 index was up 0.93 per cent.

Major resources shares rose, as investors bet the industry would benefit from further supply-side reforms that would give incumbents bigger pricing power.

Healthcare and consumer stocks also gained on optimism they would benefit from China's transition toward "quality" growth. Meanwhile, the government's pledge to reduce risks in the financial system gave a boost to banking shares.

The smaller Shenzhen index ended up 0.72 per cent and the start-up board ChiNext Composite index was higher by 0.41 per cent.

Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.15 per cent while Japan's Nikkei index closed down 0.11 per cent .

At 07:03 GMT, the yuan was quoted at 6.573 per U.S. dollar, 0.07 per cent firmer than the previous close of 6.5775.

The largest per centage gainers in the main Shanghai Composite index were Poly Real Estate Group Co Ltd up 7.61 per cent, followed by Shanghai Fosun Pharmaceutical Group Co Ltd gaining 7.12 per cent and China Jushi Co Ltd up 7.03 per cent. The largest per centage losses were Guizhou Yibai Pharmaceutical Co Ltd down 7.54 per cent, followed by Hebei Jinniu Chemical Industry Co Ltd losing 5.98 per cent and Wenyi Suntech Co Ltd down by 5.05 per cent.