China shares jumped over 3 per cent on Monday to their highest level in seven weeks after the central bank took fresh steps to inject liquidity into the struggling economy and said the stock market's correction "is almost over". Investors were also in a buying mood ahead of the 13th five-year economic plan to be announced later this month, expecting stimulus and other growth measures. Hong Kong stocks were firmer too, extending last week's 4.4 per cent rebound on subdued expectations of a US rate hike this year and a recovery in global commodity prices. On the mainland, the CSI300 index rose 3.5 per cent to 3,458.08 points by midday, while the Shanghai Composite Index gained 3.4 per cent, to 3,290.62 points. Stocks rose across the board, led by small-caps, with Shenzhen's growth board ChiNext surging 4.5 per cent. Poly Real Estate rose 3.3 per cent after reporting a 20 per cent rise in contract sales during the Jan-Sept period. China telecom giants China Mobile, China Telecom and China Unicom rose on hopes of tower sale announcements, according to Reuters.
More News thefinancialexpress-bd
0 comments:
Post a Comment