From MarketScreener:

China stocks rose on Thursday, boosted by tighter regulation of derivative businesses and expectations of further stimulus. The CSI 300 Index gained 0.9%, rebounding after a 1.3% drop. The index is up 8.3% for the month, set to end a six-month losing streak. The Hang Seng Index in Hong Kong also edged up 0.2%.

State-led buying and regulations have lifted China’s blue-chip index from five-year lows. More aggressive stimulus is needed for sustained growth in the sluggish economy. The annual National People’s Congress next week will unveil the government’s stimulus plans and growth targets. Tighter regulation on derivatives was announced to boost investor confidence.

Chinese Premier Li Qiang emphasized strengthening economic ties with the U.S. and warned against decoupling. Semiconductor and communication equipment shares surged over 3%, with automobiles up 2.6%. In Hong Kong, tech stocks remained steady and healthcare firms saw a 1.2% increase in shares. The market awaits crucial U.S. inflation data for hints on potential interest rate cuts.



Read more at MarketScreener: China stocks rise on policy support expectations ahead of key meeting -February 28, 2024 at 11:34 pm EST