China Markets Gain Following Strong Caixin Report

Chinese stocks gained on Thursday, following strong economic data. The Shanghai Composite gained 16.1 points, or 0.52 percent to 3,118.80.

The Caixin China services PMI increased to 52.4 in October, versus a reading of 52.0 in September.

The U.S. Fed kept interest rates unchanged on Wednesday. US stock markets closed lower overnight, with the Dow Jones Industrial Average falling 0.43 percent, to 17,959.64, the S&P500 index dropping 0.65 percent to 2,097.94, and the Nasdaq Composite slipping 0.93 percent to 5,105.57.

Oil prices traded higher on Thursday, with the US WTI crude futures on the NYMEX gaining 1.04 percent to trade at $45.81 a barrel.

Top market movers among the Shanghai Composite index are as follows:

• China State Construction Engineering Corp Ltd (601668: SHH) shares gained 3 percent to 7.23 CNY.
• China Railway Group Ltd (601390: SHH) rose 1.8 percent to 8.58 CNY.
• CITIC Securities Co Ltd (600030: SHH) shares rose 1.3 percent to 16.84 CNY.

• China Northern Rare Earth Group High-Tech Co Ltd (600111: SHH) shares down around 0.6 percent to 12.60 CNY.
• Inner Mongolia BaoTou Steel Union Co Ltd (600010: SHH) dropped 0.4 percent to 2.79 CNY.
• China Petroleum & Chemical Corp (600028: SHH) fell 0.2 percent to 4.94 CNY.