Stocks end higher on shares opportunities

China stocks added to early gains on Monday to end higher as investors sought opportunities in shares hit by losses last week, even as economic data suggested the potential for slowing growth in the world’s second- largest economy.

The blue- chip CSI300 index rose 1.30 percent to 3,694.68, while the Shanghai Composite Index gained 0.90 percent to 3,237.36 points.

Gains were led by high- tech, consumer and healthcare firms that had been hit by losses last week.

“The market has been in a rising period led by cyclical shares. In previous sessions, the enterprise board fell relatively steeply, so the opportunity for a rebound is very clear,” Huang Xiaobin, an analyst at Huaitai Securities based in Shenzhen, South China’s Guangdong Province, said in a note.

Investors appeared unperturbed by data on Monday showing that China’s factory output slowed more than expected in July, while investment and retail sales also disappointed. But economists do not expect any hard landing, with the government keen to ensure stability in economic growth.

Display company BOE Technology Group Co Ltd gained 3.00 percent, and was the most traded component of the CSI300 index by volume.

Voice recognition software maker iFlytek Co Ltd gained the daily limit of 10 percent. The company said last week that its first- half profits rose 58.1 percent.

The tech- heavy ChiNext board gained 2.90 percent.