Stocks end mixed with financial leading gains

Major indexes on the Chinese mainland were mixed on Thursday, as gains in financial stocks offset losses in resources firms after the country vowed to curb pollution throughout winter.

The blue-chip CSI300 Index rose 0.26 percent to 3,912.95 points, while the Shanghai Composite Index shed 0.06 percent to 3,386.10 points.

Resources firms continued to weigh, with energy stocks, in particular coal producers, sliding, after the country’s top coal-producing region vowed to cut concentrations of hazardous airborne particles by 40 percent over the winter months.

Shares in top coke producer Shanxi Coking dived 7.66 percent to six-week lows, after it planned to slash output of coke as part of the country’s campaign against air pollution, especially over the winter.

However, market moves remained largely measured ahead of a key meeting to be held next week, with the heavyweight financial sector leading the gains with a 0.50 percent gain.

China’s securities regulators have said maintaining market stability is a top priority.

“There’s a lot of expectation that the government will accelerate State-owned enterprise reforms,” said Wu Kan, head of equity trading at Shanshan Finance, explaining why defense-related stocks, most of which are State-owned, surged on Thursday.

Avic Aviation High-Technology Co, for instance, jumped by the daily maximum limit of 10 percent.