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

Stocks rise to 8-week high on stimulus, SOE reform hope

(chinadaily.com.cn) Updated: 2015-10-15 16:44

Stocks rise to 8-week high on stimulus, SOE reform hope

An investor looks at an electronic trading screen at a brokerage in Nanjing, Jiangsu province. [Asinewsphoto by Su Yang]

Chinese stocks surged to an eight-week high on Thursday as the government unveiled a plan a day earlier to reorganize the telecom industry, raising speculation of accelerating reforms of State-owned enterprises (SOEs) to boost economic growth.

The Shanghai Composite Index climbed 2.3 percent to close at 3,338.07, the highest level since Aug 21, while the CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 2.4 percent, to 3,486.82.

An index tracking telecom stocks jumped nearly 5 percent, after China's three main telecom operators agreed to consolidate towers and related assets into a jointly owned firm, a move that would reduce duplication of telecom infrastructure.

China United Network Communications Ltd and China Mobile Ltd gained at least 2.7 percent after the government injected 231.4 billion yuan ($36 billion) of network assets such as base stations into a new company called China Tower Corp.

There is "speculation regarding another wave of SOE reform," the Bloomberg News quoted Gerry Alfonso, a sales trader at Shenwan Hongyuan Group Co in Shanghai, as saying.

"The economy is slowing down and a clear, but challenging, way of supporting the economy would be to speed up SOE reform. SOE reform remains one of the most solid investment themes," he added.

Following the release of weak inflation data for September, China's economic planner said on Thursday that consumer prices will continue to rise at a mild pace in coming months, and approved six transportation projects worth 68.6 billion yuan ($10.82 billion).

"There seem to be considerable expectations of further economic stimulus, which could mitigate some deflationary pressures," said Alfonso.

Reflecting rising risk appetite, outstanding margin loans in China rose in the past five sessions. Last week, investors' securities accounts witnessed weekly net inflows for the first time in six weeks.

Stocks in China rose across the board on Thursday, led by tech shares.

Yang Delong, chief analyst at China Southern Fund Management, said the sustained rally the National Day holidays was mainly attributable to strong oversold bounce momentum following the slump of the A-share market.

China's stock market started to drop four months ago, sending the benchmark Shanghai Composite index tumbling almost 40 percent from its June 12 peak as investors scurried for the exit.

Agencies contributed to this story.

Hot Topics

Editor's Picks
...
邹城市| 博兴县| 汉源县| 上高县| 东丽区| 十堰市| 广宗县| 郸城县| 奎屯市| 庐江县| 南华县| 白城市| 邛崃市| 邢台县| 五河县| 石渠县| 景宁| 通州市| 石屏县| 泊头市| 聊城市| 宜宾市| 隆林| 台安县| 弋阳县| 平乐县| 都江堰市| 左云县| 绍兴县| 炎陵县| 柳州市| 马关县| 洛浦县| 宁晋县| 东丰县| 安达市| 靖江市| 青阳县| 西平县| 固始县| 新郑市|