From Business Recorder: 2024-04-15 18:38:56

China stocks opened the week positively, with major indexes up on Monday. New guidelines on the capital market were seen as a positive sign for investors. However, Hong Kong shares experienced a decline.

The securities regulator in China issued draft rules to improve supervision of company listings and delistings. The goal is to enhance the stock market and protect investors’ interests.

Strategists believe the updated policies will lead to healthy long-term development of the capital market. The Shanghai Composite index closed up 1.26%, with the blue-chip CSI300 index up 2.11%.

In contrast, the Shenzhen index decreased by 0.29% while the ChiNext Composite index rose by 1.852%. Across the region, MSCI’s Asia ex-Japan index was down by 0.79% and Japan’s Nikkei index closed 0.74% lower.

The yuan was slightly weaker against the US dollar, while the Hang Seng index closed 0.72% lower. The Hang Seng China Enterprises index fell by 0.39%.

Lenovo Group Ltd was the top gainer on the Hang Seng, up 2.64%, while Chow Tai Fook Jewellery Group Ltd fell by 7.92%. The energy sector saw gains, but the IT and financial sectors ended lower.



Read more at Business Recorder: China stocks rise after new capital market guidelines – Markets