Published: October 01, 2017 19:32:14 | Updated: October 24, 2017 08:48:39
China stocks were firm at the weekend, buoyed by hopes of further reforms to the mainland’s state-owned enterprises and by consumer firms as investors bet shoppers would spend big during the upcoming week-long National Day holiday.
The blue-chip CSI300 index rose 0.4 per cent, to 3,836.50 points, while the Shanghai Composite Index gained 0.3 per cent to 3,348.94 points.
For the month, the CSI300 also gained 0.4 per cent but it posted a solid 4.6 per cent rise for the quarter, taking its gain so far this year to around 16 per cent. Much of the gains have come from resources stocks thanks to the country’s year-long construction boom.
The SSEC dipped 0.4 per cent in September, but climbed 4.9 per cent in the quarter, bringing its year-to-date rise to a more modest 7.9 per cent.
Most sectors rose on the last trading day before the week-long holiday, with an index tracking China’s consumer sector advancing 0.8 per cent.
Chinese markets will be shut this week for the holiday and will not resume trade until October 9, according to Reuters.
LafargeHolcim vows to be the most trusted name in construction sector
Walton holds IPO road show on Jan 15
Citi celebrates 30 years in Bangladesh
BBG to encourage more British cos to invest in BD
Shakil Rizvi new DBA president
MTB launches UnionPay payment solutions
BIDA for reform of 'fiscal depreciation' provision in tax law
Pressure mounts on govt for continuation of Accord
Post-LDC challenge lies in incentivising exports
Govt decides to start piloting vannamei shrimp farming
Eight die in Chattogram slum fire
India levies 200pc customs duty on Pakistan imports
Extended plant of GPH Ispat goes into production by June
Heavy rains damage books at Ekushey book fair
© 2017 - All Rights with The Financial Express