SHANGHAI: China stocks rose on Tuesday led by recovered brokerage shares, with mainland forecasters hoping that domestic indexes will enlarge their gains as Beijing steps up spur to strengthen economic growth.
“The market is still in a bullish period, although the index could meet some resistance around 2,700 points,” said Liu Jingde, analyst at Cinda Securities in Beijing.
The CSI300 index rose 1.2 percent, to 2,852.31 points at the end of the morning session, while the Shanghai Composite Index gained 0.7 percent, to 2,699.14 points.
The Hang Seng index added 0.4 percent, to 23,449.24 points, recovering after a rocky Monday, while the Hong Kong China Enterprises Index gained 1.1 percent, to 10,938.92.
The mainland markets have rallied since China unexpectedly cut benchmark lending rates two weeks ago as authorities sought to re-energise spur a tottering economy.
Almost all 19 listed mainland brokerages rose on Tuesday, rebounding from Monday’s sharp drop, with Hong Yuan Securities Co and Guoyuan Securities Co jumping their 10 percent daily limit.
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