China’s stock market is growing due to the securities of the infrastructure sector
By the end of the trading session stock indices in China have slightly increased due to the fact that the shares of the infrastructure sector have got a stronger position. It has compensated the anxiety about the continuing weakening of the Chinese currency.
CSI300, an index that tracks the price of shares of the largest companies, traded in Shanghai and Shenzhen, has risen by 0.3 percent and amounted to 3.327,80 points. Shanghai Composite, the index of the Shanghai Stock Exchange, has risen by 0.2 percent, ending the session at 3.091,29 points.
During the week CSI300 index has added 0.7 percent, while the SSEC index has risen by 0.9 percent.
Securities of companies that are engaged in the infrastructure sector have suddenly jumped after the instruction for the management of government funds was approved by the Chinese leadership. These funds are often used for the implementation of projects of public-private partnerships, also considering the area of the infrastructure.
In addition, the sector supports the improvement of relations between China and the Philippines. This opens good prospects for China, which is ready to start the construction abroad.
The yuan, Chinese currency, has collapsed against the dollar and has fixed at its new low over 6 months during the trading session on Friday.
The stock market of Hong Kong has closed on Friday due to the fact that the city is on the path of the typhoon “Khaimah.”