|Published : 13 Apr 2017, 15:15:09|
Chinese stocks inch up as investors continue to bet
Chinese stocks inched up on Thursday as investors continued to bet on stocks that could benefit from Beijing's plan to build a vast new economic zone.
Though gains were capped by fears that policy tightening will crimp economic growth, the blue-chip CSI300 index rose 0.2 per cent to 3,514.57 points, while the Shanghai Composite Index added 0.1 per cent to 3,275.96 points.
Fourteen Chinese companies suspended trading in their shares on Thursday, citing the need to further evaluate the potential impact on businesses from Xiongan.
Some market participants suspect the concerted moves are the result of regulators' intervention.
Most sectors were little changed. Banks continued to drag, posting the fourth session of losses, as the nation's banking regulator steps up efforts to contain risks in the financial system, reports Reuters.