SHANGHAI, March 28 (Reuters) - China stocks jumped on Thursday, on expectations that Beijing will take more aggressive measures to stimulate the economy, while an official's speech also helped sentiment.
** President Xi has told China's financial cadres that active monetary policy toolkit must include a controversial means of injecting liquidity into the economy, South China Morning Post reported on Thursday.
** Top legislator Zhao Leji said on Thursday China's economy will provide a strong driving force for the world recovery, promising the door of the country's opening can only get bigger. China will reduce "negative list" for foreign investors, he said.
** Broad Asian markets also rose, and investors are waiting on U.S. core inflation figures due on Friday to gauge the Federal Reserve's rate cut pace.
** At the midday break, the Shanghai Composite index was up 1.09% at 3,025.89 points, on course for its biggest one-day jump in a month.
** China's blue-chip CSI300 index was up 1.12%, with its financial sector sub-index lower by 0.14%, the consumer staples sector up 0.62%, the real estate index up 0.5% and the healthcare sub-index
up 1.02%.
** Chinese H-shares listed in Hong Kong rose 2.2% to 5,853.92, while the Hang Seng Index was up 1.63% at 16,660.76.
** The smaller Shenzhen index was up 2.38%, the start-up board ChiNext Composite index was higher by 1.88% and Shanghai's tech-focused STAR50 index was up 2.15%.
** Around the region, MSCI's Asia ex-Japan stock index
was firmer by 0.61% while Japan's Nikkei index
was down 1.23%.
** The largest percentage gainers in the main Shanghai Composite index were Geovis Technology Co Ltd , up 16.09%, followed by Chengdu JOUAV Automation Tech Co Ltd
, gaining 13.55%, and Piesat Information Technology Co Ltd , up by 13.16%.
** The top gainers among H-shares were Haier Smart Home Co Ltd , up 7.33%, followed by Meituan , gaining 7.24%, and JD.Com Inc , up by 6.85%.
(Reporting by Shanghai Newsroom; Editing by Mrigank Dhaniwala)
((Jason.Xue@thomsonreuters.com;))
Comments