The CSI Bank Index rose 4% in the morning session, as investors took in their stride shrinking margins suffered by the “Big Five” lenders.

Sentiment for major banks has been boosted by mutual fund disclosure showing state investor Central Huijin has been buying stakes in bluechip funds to bolster the market.

Property shares fell after a string of Chinese property developers, including Vanke, reported weaker financial results for 2023.

China’s blue-chip CSI300 index was up 0.07%, with its financial sector sub-index higher by 0.11%, the consumer staples sector down 0.03%, the real estate index down 2.21% and the healthcare sub-index down 0.96%.

The smaller Shenzhen index was unchanged for the day, the start-up board ChiNext Composite index was weaker by 0.07% and Shanghai’s tech-focused STAR50 index was down 1.34%​.

Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.14% while Japan’s Nikkei index was up 0.43%.

The yuan was quoted at 7.2269 per US dollar, 0.02% weaker than the previous close of 7.2256.

The largest percentage gainers in the main Shanghai Composite index were Shanghai V Test Semiconductor Tech Co Ltd , up 12.05%, followed by Jinan High-tech Development Co Ltd, which gained 10.16%, and Zhengping Road & Bridge Construction Co Ltd, up by 10.15%.

The largest percentage losers in the Shanghai index were Zhejiang Shengda Bio-Pharm Co Ltd, down 10.029%, followed by Elegant Home-Tech Co Ltd, losing 9.986%, and A-Zenith Home Furnishings Co Ltd, down by 9.939%.

So far this year, the Shanghai stock index is up 1.7%​ and the CSI300 has risen 2.7%, while China’s H-share index listed in Hong Kong is up 0.7%. Shanghai stocks have risen 0.34% this month.

The FTSE 100 Index is up 6.26% since this day last year.