国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Markets

China stocks extend gains after Brexit hits elsewhere

(Agencies) Updated: 2016-06-30 06:53

China's stocks rose again on Wednesday, extending their performance as one of the world's best performers after the United Kingdom's shock vote to leave the European Union, because the market's dominance by local traders helped insulate the nation's shares from global turmoil.

The Shanghai Composite Index advanced 0.7 percent, taking its rally since the start of trading on Friday to 1.4 percent, the best gain among 94 benchmark indexes tracked by Bloomberg after the Jakarta Composite Index.

Drugmakers, industrial and consumer-staples companies have led gains in Shanghai over the period, with traditional medicine maker Beijing Tongrentang Co climbing 7.6 percent. The MSCI All-Country World Index has tumbled 4.5 percent during the same period.

The gain is some respite for China's battered traders, who've endured a 44 percent plunge by the Shanghai index since last year's peak and MSCI Inc's refusal this month to add the nation's shares to its benchmark gauges.

Local individuals account for about 80 percent of trading, with foreign investors limited by quotas from buying and selling mainland equities.

"China's market is still a semi-closed one that isn't subject to too much in the way of fund outflows," said Wei Wei, an analyst at Huaxi Securities Co in Shanghai.

The Shanghai Composite closed at 2,931.59. The Hang Seng Index climbed 1.3 percent, with Cheung Kong Property Holdings Ltd and Bank of East Asia Ltd rallying at least 3.2 percent. The Hang Seng China Enterprises Index rose 0.4 percent.

Mainland buying of Hong Kong shares via an exchange link with Shanghai has accelerated in the past two months, with the total available quota dropping below 25 percent of the aggregate limit of 250 billion yuan ($38 billion).

The Chinese mainland restricts the access foreigners have to its stock markets, allowing only those with approved investment quotas to buy or sell yuan-denominated shares.

As of the end of May, 273 global investors were granted quotas for $81.1 billion under the qualified foreign institutional investor system, according to the nation's foreign exchange regulator. That's about 1.3 percent of the nation's market capitalization.

China Shipbuilding Industry Co advanced 4.1 percent in Shanghai on Wednesday, pacing gains for industrial companies, as it resumed trading for the first time in more than three weeks. The company plans to raise as much as 3.9 billion yuan through a private share sale to its parent and two affiliates to reduce debt, according to an exchange statement. China Railway Group Ltd and China Railway Construction Corp climbed at least 6.2 percent.

CK Hutchison Holdings Ltd, which generated 37 percent of its total earnings before interest and taxes from the UK last year, rose 1 percent in Hong Kong, while London-based Standard Chartered Plc advanced 1.9 percent.

China will release June economic data on Friday, starting with the Purchasing Managers Index.

Hot Topics

Editor's Picks
...
凤城市| 自贡市| 双城市| 宁蒗| 丹巴县| 蛟河市| 中江县| 枣强县| 新丰县| 博客| 封开县| 垣曲县| 清新县| 宜兰市| 当涂县| 沙坪坝区| 东乌珠穆沁旗| 桐乡市| 崇左市| 鄯善县| 锦州市| 明溪县| 临武县| 宜宾县| 深水埗区| 浙江省| 通城县| 纳雍县| 拉孜县| 福海县| 双江| 葫芦岛市| 永新县| 广饶县| 萍乡市| 定南县| 太康县| 茌平县| 安远县| 武义县| 凤阳县|