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China’s stock market is growing thanks to the banks. The papers of Hong Kong are rising

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China’s stock market is growing thanks to the banks. The papers of Hong Kong are rising

China’s stock market is growing thanks to the banks. The papers of Hong Kong are rising
September 21
16:00 2016

Chinese securities have slightly increased on Wednesday due to the strengthened real estate sector and shares of the financial companies, despite the remaining general restrained mood.

In addition, the market has been supported by the growth of metallurgical companies’ securities after it was announced that the Baoshan Iron and Steel and Wuhan Iron and Steel were planning the merger of the companies. Meanwhile, investors tried to figure out which companies would be subjected to the restructuring that has been conducting by the authorities so far.

Asian sentiment has been reinforced by the Bank of Japan decision on the reconsideration of principles of the monetary policy in order to stimulate the growth and accelerate the inflation.

Traders were also expecting the results of the meeting of the Federal Reserve System on Wednesday. The possible indications for the term of the next rate hike in the United States were in their focus.

CSI300, the index of the largest companies from those that are traded on the Shanghai and Shenzhen Stock Exchange has increased by 0.3 percent and amounted to 3.266,64 points. The Shanghai Composite Index has grown by 0.1 percent, amounting to 3.025,87 points.

Angang Steel shares have soared by 4.8 percent. The securities of Bengang Steel Plates have increased by 6.4 percent. The shares of Maanshan Iron & Steel have jumped by 2.8 percent.

Hong Kong securities have also risen against the decision of the Central Bank of Japan and the intense inflow of the Chinese capital.

Hang Seng Index has grown by 0.6 percent, amounting to 23.669,90 points. China Enterprises Index has risen by 1.0 percent and became equal to 9.849,06 points.

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