top of page

China stocks rise after new capital market guidelines

SHANGHAI: China stocks had a good start to the week, with major indexes closing higher on Monday as investors interpreted the new guidelines on the country’s capital market as a positive signal for the stock market. Hong Kong shares declined.

China stocks rise after new capital market guidelines

China’s securities regulator issued draft rules on Friday to strengthen the supervision of company listings, delistings and computer-driven programme trading, in a move to improve the stock market and protect investors’ interests.

UBS strategist Lei Meng believes that the updated policies would fundamentally guide the long-term healthy development of the capital market, improve the quality of listed companies and boost market confidence.

At the close, the Shanghai Composite index was up 1.26% at 3,057.38. The blue-chip CSI300 index was up 2.11%, with its financial sector sub-index higher by 1.86%, the consumer staples sector up 2.77%, the real estate index up 0.21% and the healthcare sub-index up 1.08%.

The smaller Shenzhen index ended down 0.29% and the start-up board ChiNext Composite index was higher by 1.852%.

Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.79%, while Japan’s Nikkei index closed down 0.74%.

At 0747 GMT, the yuan was quoted at 7.2386 per US dollar, 0.02% weaker than the previous close of 7.2372. ** At the close of trade, the Hang Seng index was down 121.23 points or 0.72% at 16,600.46.

The Hang Seng China Enterprises index fell 0.39% to 5,856.44.

The sub-index of the Hang Seng tracking energy shares rose 1.6%, while the IT sector dipped 1.23%, the financial sector ended 0.5% lower and the property sector dipped 0.89%.

The top gainer on the Hang Seng was Lenovo Group Ltd , which gained 2.64%, while the biggest loser was Chow Tai Fook Jewellery Group Ltd, which fell 7.92%.

Read More: Here

bottom of page