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Stock markets of China and Hong Kong are rising

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Stock markets of China and Hong Kong are rising

Stock markets of China and Hong Kong are rising
September 29
15:00 2016

Stock indexes in China are increasing as a result of the trading session on Thursday. The securities of the energy sector are at the head of them. Nevertheless, the volume of trading in Shanghai has located near a 4-month low before the long weekend.

CSI300 index, which tracks the stock price of the biggest traded in Shanghai and Shenzhen, have risen by 0.4 percent and amounted to 3.244,39 points. Shanghai Composite index of the Shanghai Stock Exchange has also increased by 0.4 percent and ended the day on the mark of 2.998,48 points.

The trading volume is still low as investors continue to worry due to the prospects of the Chinese economy’s growth. They do not open positions before national holidays, which begin on October 1 and will last for a week.

The main sectors have finished the trading with the positive dynamics; the papers of the energy sector have been ahead of all.

The securities of oil companies have become stronger due to the increased cost of raw materials. This has happened due to the OPEC sudden decision to restrict the oil production.

In addition, shares of companies that produce coal have suddenly grown as investors believe that the increase in oil prices will cause the coal consumption growth.

The Hong Kong stock market has also ended the session “in the green”, following the other platforms of Asia. The papers of the largest energy companies have soared following the oil quotations.

Hang Seng, Stock Exchange Index of Hong Kong has risen by 0.5 percent, amounting to 23.739,47 points. The index of the Chinese companies traded in Hong Kong, has risen by 0.8 percent, ending the session at 9.794,33 points.

The index, which fixes the stock price of the energy sector in Hong Kong, has gained 4.3 per cent due to the price jump of securities of the largest Chinese oil companies CNOOC, PetroChina and Sinopec Corp.

All major sectors in Hong Kong, except the real estate sector, have ended the day” in the green”.

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