Stocks largely flat amid few market surprises

China stocks were little changed on Monday, the first day of the country’s annual parliament meeting, when few market surprises are expected.

China aims to expand its economy by around 6.5 percent this year, the same as in 2017, while pressing ahead with its campaign to reduce risks in the financial system, Premier Li Keqiang said on Monday at the opening of the annual National People’s Congress.

“China’s 2018 major economic targets reflect that policymakers are confident of this year’s growth momentum,” ANZ wrote in a note.

Real estate shares firmed, after Premier Li said China aims to pursue “stable and healthy development” of the property market in 2018 with an increased focus on providing affordable housing and developing the rental market.

At the close, the Shanghai Composite Index was up 2.4 points, or 0.07 percent, at 3,256.93.

Meanwhile, the blue-chip CSI300 index was up 0.04 percent, with its financial sector subindex gaining 0.05 percent, the consumer staples sector down 1.49 percent, the real estate index rising 0.33 percent and the healthcare sub-index gaining 1.06 percent.

The smaller Shenzhen index ended up 0.18 percent while the start-up board ChiNext index was higher by 1.34 percent.

So far this year, the Shanghai stock index is down 1.5 percent, the CSI300 has fallen 0.3 percent while China’s H-share index listed in Hong Kong is up 2.9 percent.

Shanghai stocks have declined 0.06 percent so far this month.