SHANGHAI: China stocks climbed for a fifth day as Huatai Securities Co.’s plan to trade shares in Hong Kong fueled a unite for brokerages and industrial companies added on prospects for increased investment.
The Shanghai Composite Index (SHCOMP) climbed 0.5 percent to 2,580.85 at the 11:30 a.m. break, heading for the highest level since August 2011. Chinese stocks have rallied since the central bank last week unexpectedly cut interest rates for the first time in two years to support the economy. While the People’s Bank of China said the rate move doesn’t signal a shift in monetary policy, strategists from Aviate Global LLP and Bocom International Holdings Co. say the cut signals a broader policy loosening campaign that will fuel further stock gains.
Huatai Securities Co. jumped 10 percent after the Nanjing-based company’s board approved a plan to list H shares. China Railway Group Ltd. (390) and China Railway Construction Corp. advanced after the government approved four projects. China Gezhouba Group Co. jumped to the highest since February 2013 after Premier Li Keqiang said the government will encourage private investment in water infrastructure projects.
shanghai shares start week with losses 25 june 2018
Hong Kong, (UrduPoint / Pakistan Point News - 25th Jun, 2018 ) :Hong Kong and mainland Chinese stocks fell on...
