Chinese stocks started this month on a positive note

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Chinese stocks started this month on a positive note

November 01, 2018 - 11:51
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Chinese stocks started this month on a positive note, Bloomberg reports. Country’s officials assured that they will increase stimulus to support slowing Chinese economy. Chinese yuan gained.

Great Wall in China | © panayota, CC0 1.0

Chinese stocks started this month on a positive note, Bloomberg reports. Country’s officials assured that they will increase stimulus to support slowing Chinese economy. Chinese yuan gained.

Index CSI 300 grew by 0,7% on Thursday. Hang Seng Index gained 1,4%. IT-companies were among leaders today. Internet giant Tencent Holdings Ltd. showed the biggest two-day growth since July 2015. Yuan grew by 0,35% to 6,9496 per dollar. This week it got too close to key level of 7 yuan per dollar.

Shanghai Composite is among worst performing world indexes in 2018, as it lost 20%. Today it gained 01%.

Shares of alcohol drinks producers are growing for the second day. Kweichow Moutai and Wuliangye Yibin gained at least 2,5%. Besides, there is also growth of real estate sector and inflow of foreign investments observed.