BEIJING: China stocks climbed on Monday trade on the prospect of further stimulus measures from Beijing, but the region saw broad weakness on expectations for an increase in U.S. interest rates.
Mainland China shares led the region, with the Shenzhen and Shanghai indexes up 1.6% and 0.7% respectively.
Stocks rose after Chinese Premier Li Keqiang’s Sunday statement that the government has room, as well as the tools, to step in should growth falter and affect employment. While he didn’t elaborate on remedies the government might take, analysts say they expect further interest rate cuts this year, which would stoke stocks further.
