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September 23, 2016

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China stocks rise on unchanged Fed rates

CHINA stocks gained yesterday following strong performance in overseas markets after the US Federal Reserve left interest rates unchanged, ending three days of flat trading.

Heavyweight stocks pushed up the Shanghai Composite Index, which added 0.54 percent to 3,042.31 points with turnover improving to 159 billion yuan (US$24 billion) from 134.1 billion yuan on Wednesday.

Investors felt a bit more free to trade and the markets gained with financial and real estate sectors outperforming others.

AVIC Securities wrote in a research note yesterday that the influence from the overseas market will gradually fade away and investors’ sentiment has rebounded, which would benefit sectors such as brokerages and small-cap shares.


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