Market rises 5% on the back of expected easing measures
Updated: 2015-08-28 15:48
By Sun Chengdong(chinadaily.com.cn)
|
|||||||||
An investor gestures in front of an electronic screen showing the stock composite index at a brokerage house in Beijing, August 28, 2015.[Photo/IC] |
China stocks rose on Friday on expectation of further easing measures from government. With these gains adding to Thursday's recovery, investors seem to have regained confidence in the market.
The benchmark Shanghai Composite Index jumped 4.81 percent to 3,232.85 on Friday and the smaller Shenzhen Component Index was up 5.32 percent to 10,800 points.
Market sentiment grew positive after series of easing measuring were rolled out this week by government and regulatory agencies. China Securities Finance Corp Ltd applied for allotment of 1.4 trillion yuan in inter-banking borrowing, the second time it has applied for funding to stabilize the market.
Chinese government green lighted foreign capital to enter Chinese property market and allow foreigner to buy property in China. Cabinet approved pension fund to invest in the stock market, with up to 600 billion yuan ($97 billion) likely to be injected into the market.
The slew of easing measures showed Chinese government's determination to keep stock market stable. Since individual retail investors dominate Chinese stock market, government's attitude toward stock market is crucial, according to analyst at wlstock.com, the easing measures is great news for the moment, but fluctuation can be expected in the future.
- Bolt 'somersaults' after cameraman takes him down
- A peek into daily drill of ceremonial artillery unit
- 93-year-old's murals save Taiwan's 'Rainbow Village'
- Top 8 novel career choices in China
- Hairdos steal the limelight at the Beijing World Championships
- Chorus of the PLA gears up for Sept 3 parade
- Iconic Jewish cafe 'White Horse Coffee' reopens for business
- Beijing int'l book fair opens new page
Most Viewed
Editor's Picks
Seventh China-US strategic dialogue |
Premier Li embarks on Latin America visit |
What do we know about AIIB |
Full coverage of Boao Forum for Asia |
Annual legislative and political advisory sessions |
Spring Festival trends reflect a changing China |
Today's Top News
China eases rules for foreigners to buy property
Ministry denies troops sent to reinforce DPRK border
Stem cell donor offers ray of hope for US boy with leukemia
All creatures great and small help keep V-Day parade safe
China not the only reason global stock markets are in a tailspin
Market woes expected to delay Fed hike
Gunman had history of workplace issues
11 under probe and 12 detained over Tianjin blasts
US Weekly
Geared to go |
The place to be |