China shares rise after Fed rate decision

Dhaka,  Monday,   2016-09-22
Published : 22 Sep 2016, 13:03:54

China shares rise after Fed rate decision

China shares rise after Fed rate decision
China shares rose on Thursday, pacing gains in Asian markets, as the Federal Reserve's decision to keep interest rates unchanged eased investor anxiety.

The rally also came after robust overnight gains on Wall Street, and followed a week of extremely low volatility in mainland stocks.

China's blue-chip CSI300 index rose 0.9 per cent, to 3,295.25 points by lunch break, while the Shanghai Composite Index gained 0.8 per cent, to 3,048.61 points.

The Fed left short-term rates unchanged, but signalled it could hike rates by year-end as the labour market improved further.

It also cut the number of rate increases expected in 2017 and 2018, and reduced its longer-run interest rate forecast.

All major sectors gained in China, according to a news agency report.

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