Shares eke out gain as volatility drops to two-year low
Chinese equities edged higher after swinging between gains and losses for much of the day, with an advance in consumer stocks helping offset losses by some energy companies.
The Shanghai Composite Index added 0.1 percent, after changing direction at least seven times and falling as much as 0.3 percent. Hualan Biological Engineering Inc rallied more than 4 percent, leading a gauge of healthcare stocks higher, while a measure of energy shares declined. The Hang Seng Index in Hong Kong climbed at the close as the bourse operator reintroduced a stock closing auction on Monday.
Trading volume on the mainland was 21 percent below the 30-day average, with a measure of 10-day volatility dropping to a two-year low. The moves come after G20 finance chiefs signaled escalating concern about a wave of anti-globalization sentiment. Following a two-day meeting in Chengdu, Sichuan province, they emphasized fiscal and structural policies to boost growth, and renewed a pledge to promote inclusiveness.