Chinese stocks will resume this year’s rally as the government works to shore up the nation’s economic recovery, according to China Asset Management Co., the biggest fund manager.
The Shanghai Composite Index dropped 1.4 percent yesterday, extending its February drop to 3.9 percent, after back-to-back gains in January and December. China’s new leaders are mulling plans to revamp the central government this week to bolster the economy as it emerges from a seven-quarter slowdown, the official Xinhua News Agency reported Feb. 23. Communist Party chief Xi Jinping is projected to become president during the broadest reshuffle in five years at the National People’s Congress starting March 5.
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Bloomberg News via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/2GN98cjNCPk/
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