Lower CPI and possible stimulus help shares rise
Print Edition
SHANGHAI stocks yesterday gained for the first time in four days as lower-than-expected inflation in September fueled hopes for more stimulus measures.
The Shanghai Composite Index rose 0.6 percent to 2,373.67 points.
China’s Consumer Price Index rose 1.6 percent in September, the lowest rate in nearly five years, while the Producer Price Index fell 1.8 percent, falling further from a deflation of 1.6 percent in August, the National Bureau of Statistics said.
The deceleration in the PPI reflected China’s economic climate is deteriorating and offered more leeway for policy-makers to unveil more easing measures to boost economy, analysts said.
“It confirmed our view that taking measures to boost growth will become the top priority for future policy decision making,” Shenyin & Wanguo Securities said.
The brokerage expected the government to cut interest rates by 25 basis points.
Media reports said several brokerages have been approved by the Shanghai Stock Exchange to provide trading services for the coming Shanghai-Hong Kong Stock Connect, a pilot that will allow mutual access between the two stock markets.
Haitong Securities gained 2.3 percent to 10.27 yuan (US$1.68). CITIC Securities added 2.8 percent to 13.34 yuan. Sinolink Securities rose 3.8 percent to close at 25.29 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
