China stocks edge up

Dhaka,  Monday,   2016-09-19
Published : 19 Sep 2016, 12:19:34 | Updated : 19 Sep 2016, 12:45:41

China stocks edge up

China stocks edge up
China stocks edged higher on Monday morning, as investors returning from the long Mid-Autumn Festival holiday drew optimism from surveys showing improving business confidence.

China's blue-chip CSI300 index rose 0.7 per cent, to 3,262.07 points by the lunch break, while the Shanghai Composite Index gained 0.6 per cent, to 3,021.02 points.

The People's Bank of China published surveys on Sunday showing business confidence among entrepreneurs in China had picked up for the second quarter in a row in 2016.

Investors are counting down to the Federal Reserve's Open Market Committee meeting on Sept. 20-21, while the outcome of the Bank of Japan's policy meeting will be on Wednesday.

Chinese investors spent 2.7 billion yuan ($404.9 million) buying Hong Kong shares on Monday morning via the Shanghai-Hong Kong Stock Connect.

Nuclear power-related stocks in both China and Hong Kong markets were in the spotlight, after Britain gave the go-ahead for a $24 billion Chinese-backed nuclear power plant.

Mainland-listed China Nuclear Engineering and SUFA Technology Industry Co Ltd both shot up 10 per cent, the maximum allowed, according to a news agency report.

-SRS-
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