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Home / International Markets / China stocks gains for 6th day on easing policy signals, Shanghai Composite up 0.4%
China stocks gains for 6th day on easing policy signals, Shanghai Composite up 0.4%

China stocks gains for 6th day on easing policy signals, Shanghai Composite up 0.4%

SHANGHAI:China stocks continued upward rally for 6th day, led by the economic and power companies, amid signs the government is united to ease financial policy further after cutting interest rates for the first time since 2012.
China Everbright Bank Co. (601818) and Bank of Communications Co. advanced more than 2 percent. China Life Insurance Co., the nation’s biggest insurer, climbed 3.9 percent, extending a five-day, 28 percent gain. Yanzhou Coal Mining Co. led a rally for energy shares, surging 3.7 percent. The central bank didn’t drain funds from the financial system using repurchase agreements, according to a trader at a primary dealer required to bid at the auctions.
The Shanghai Composite Index (SHCOMP) climbed 0.4 percent to 2,615.79 at the 11:30 a.m. break, the highest since August 2011. The 30-day average value of shares changing hands on the Shanghai exchange exceeded 200 billion yuan ($32.6 billion) for the first time in four years on Nov. 25, after rising threefold in the past six months, according to data compiled by Bloomberg.