Shares end over 3,000 on talks of easing
Print Edition
SHANGHAI stocks yesterday gained for a second day and closed above 3,000 points amid market speculation that China would further ease monetary policy to fuel economic growth.
The Shanghai Composite Index jumped 3.22 percent to close at 3,007.74 points.
China’s economic growth slipped to 6.8 percent in the final quarter of 2015, below market expectations of 6.9 percent. For the whole of 2015, the annual economic growth was 6.9 percent.
Northeast Securities Co and Central China Securities Co both said the government may further ease monetary policies such as cutting interest rates or lenders’ reserve requirement ratio.
Brokerages gained, with Sinolink Securities adding 3.43 percent to 12.68 yuan (US$1.93).
China Railway Construction surged by the daily limit of 10 percent to 10.63 yuan after it unveiled a plan to raise US$500 million from bonds.
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