Shares climb to 14-week high
Print Edition
SHANGHAI shares rose to a 14-week high yesterday, on improved risk appetite after the US Fed, while raising rates, dampened expectations of more aggressive tightening ahead.
The Shanghai Composite Index rose 0.84 percent to 3,268.94 points.
The Federal Reserve raised its benchmark policy rate 25 basis points, which analysts said had been factored into markets.
The Fed stressed that it planned to move gradually and forecast two more rate hikes this year. That cooled investor speculation that the Fed could move more aggressively.
The Fed raised rates as expected but left the market with a more “gradual” view regarding future rate hikes, Pan Jingyi, market strategist of IG Asia, said in a report.
China’s central bank yesterday raised the interest rates of open market operation tools in what analysts said was a bid to ward off capital outflows and keep the yuan stable after the Fed’s move overnight.
Huaan Securities Co surged by the 10 percent daily cap to 12.83 yuan (US$1.86).
- 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.
