Shanghai Composite up 0.48% at 3,030 points (Il Sole 24 Ore Radiocor) - Shanghai , 18 Jun - Chinese stocks closed moderately higher, rebounding from yesterday's slight losses amid strong Asian markets.

Hopes for fresh stimulus from Beijing helped support investor sentiment after mixed economic data yesterday that underscored the country's bumpy recovery.

The figures showed that China's retail sales rose 3.7% in May, topping forecasts of a 3% rise from a Reuters poll of economists, but industrial output and fixed-asset investment both came in lower than expected. Industrial output grew by 5.6% year-on-year, lower than the 6% increase expected, while fixed asset investment rose 4% compared to last May, lower than the 4.2% forecast by the Reuters poll.

Other data showed that China's home prices fell at the fastest pace in a decade in May, underscoring continued strains in the country's property sector.

In mainland stock market dealings financials and tech stocks rose, while consumer and real estate stocks slid.

The Shanghai Composite closed up 0.48% at 3,030 points, while the Shenzhen CSI 300 closed up 0.27% at 3,545 points.

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(RADIOCOR) 18-06-24 11:08:54 (0259) 5 NNNN