China Stocks See Best Week in 1 Month as Techs Lend Support

China stocks edged up on Friday to post their best week in a month, aided by strong gains in shares of technology companies.

The blue-chip CSI300 index ended 0.2 percent higher at 3,405.02 points while the Shanghai Composite Index closed flat at 2,795.31 points. For the week, CSI300 is up 2.7 percent while the SSEC gained 2 percent, both posting their best week since mid-July.

However, both the SSEC and CSI300 are down more than 10 pct since late May Technology shares have rallied after China said it has revamped a national leadership group charged with planning and studying its key technological development strategies, signalling a potential policy boost for home-grown tech firms. The tech-heavy start-up board ChiNextP rallied 2 percent this week, snapping a three-week losing streak.

Source : Reuters

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China Stocks Rebound; Tech Shares Surge on Policy Support Hopes

Chinese stocks rebounded across the board on Thursday as investors snapped up healthcare and property shares battered by a recent selloff, while tech firms rallied on hopes of more government support.

Assistance for the tech sector would mark the latest in a series of growth boosting measures being rolled out by Beijing as an escalating trade war with the United States puts more pressure on China’s already slowing economy.

The Shanghai Composite index ended 1.9 percent higher, while China’s blue-chip CSI300 index closed up 2.5 percent, recouping Wednesday’s losses.

Gains were broad based, with the CSI300’s financial sector sub-index rising 2.3 percent, consumer staples up 3 percent, real estate up 3.9 percent and healthcare up 3.8 percent.

Source : Reuters

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Asia Stocks Rise on Positive U.S. Lead and China’s Yuan Support

Asian stocks rose on Monday bolstered by gains in U.S. equities following a steady jobs report and as China stepped in to support the yuan.

The MSCI Asia Pacific Index gained 0.5 percent to 166.02 as of 10:50 a.m. in Hong Kong. The S&P 500 Index climbed after labor market data supported the Federal Reserve’s outlook. Sentiment also got a boost after China on Friday imposed a reserve requirement on some trading of foreign-exchange forward contracts in a bid to support the yuan. Equity benchmarks in Hong Kong and Singapore rose about 1 percent each to lead gains in the region.

Source : Bloomberg

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