Quantcast
Saturday , August 19 2017
Breaking News
Home / International Markets / China stocks end positively, Shenzhen raises 0.7pc, Shanghai Composite adds 2,937.65pts
China stocks end positively, Shenzhen raises 0.7pc, Shanghai Composite adds 2,937.65pts

China stocks end positively, Shenzhen raises 0.7pc, Shanghai Composite adds 2,937.65pts

BEIJING: China stocks finished with solid increases on Friday, that helped by surging brokerage shares, creating the best mainland indexes in more then 5 years.
Most economists believe it is not a question of whether Beijing will roll out more support measures but when, with many expecting both further interest rate cuts and reductions in banks’ reserve requirement ratios (RRR).
The central bank unexpectedly cut rates on Nov. 21 for the first time in more than two years to shore up flagging growth.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.7 percent, to 3,124.88 points, while the Shanghai Composite Index gained 1.3 percent, to 2,937.65 points.
For the week, the CSI300 index jumped 11.3 percent, the biggest level in six years and the SSEC index soared 9.5 percent, the most since February 2009.
Small-cap shares underperformed on Friday after the Nasdaq-style ChiNext Composite Index of mostly high tech startups listed in Shenzhen slumped 2.8 percent.
Among the most active stocks in Shanghai were Bank of China , up 4.5 percent to 3.693.60 yuan; Agricultural Bank of China, up 8.85 percent to 3.323.18 yuan and Minsheng Bank, up 1.11 percent to 9.099.04 yuan.