China’s stocks rose the most since December, led by financial companies, as investors speculated banks will be allowed to issue preferred shares to boost capital and data showed exports grew more than estimated.
Shanghai Pudong Development Bank (600000) jumped 10 percent while an index of financial companies surged 6.7 percent, the biggest gain among industry groups. Shanghai Pudong and Agricultural Bank of China Ltd. may participate in a trial allowing lenders to raise funds through preferred shares, Moneyweek reported. Cosco Shipping Co. and Shanghai International Port Group Co. soared more than 9 percent on prospects the Shanghai free-trade zone will help the city become a global trade and shipping hub.
Read Full Article HERE
Weiyi Lim, Bloomberg via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/eo5tcslFDmg/
No comments:
Post a Comment