China's stock market surges on stimulus hopes – business live

Rolling coverage of the latest economic and financial news, as the Shanghai stock market leaps by over 4%

Every sector on the Chinese stock market has rallied hard today, thanks to president Xi’s pledge to support businesses.

Healthcare and technology stocks led the way:

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

“Any words and practices that negate and weaken the private economy are wrong.

Supporting the development of private enterprises is the Party Central Committee’s consistent policy.

Chinese stocks rallying hard as Beijing’s verbal support reverberates through markets:

China H-Shares +3.1%
Hang Seng +2.2%
Shanghai Composite +4.1%
CSI 300 4.4%
ChiNext Index +5.7% pic.twitter.com/au8lCum3G9

Asian shares bounced higher on Monday, as Chinese stocks extended their rebound for a second straight session, pulling European futures higher in the process.

Beijing’s pledge of support for the economy is overshadowing geopolitical concerns over Saudi Arabia, Italy and Brexit.

<

p lang=”en” dir=”ltr”>It is all about China today whereby stimulus hopes lifted sentiment across the FX markets and helped traders to offset geopolitical and trade concerns. AUDUSD rebounded from this morning dip. Eyes on the GBPUSD as PM plans to announce that EU withdrawal is 95% settled. #AUDUSD pic.twitter.com/O2SP7Y9bxa

Related: Italian bank fears expected to grow after debt downgrade

Continue reading…

Read More China’s stock market surges on stimulus hopes – business live

Related Post