Headline indices of the Mainland China equity market spurted on Friday, 29 June 2018, as investors chased for bottom fishing on recently battered stocks after reports that China easing restrictions on foreign investment in sectors ranging from agriculture to banking. The benchmark Shanghai Composite Index inclined 2.17%, or 60.52 points, to 2,847.42, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, grew 3.3%, or 50.80 points, to 1,607.62. The blue-chip CSI300 index rose 2.6%, or 87.45 points, to 3,510.98.
Mainland China stocks bounced off two year lows hit on Thursday after Beijing eased foreign investment limits. China eased restrictions on foreign investment in sectors ranging from banking, automobiles, heavy industry and agriculture, as it moved to open its domestic markets. In addition to confirming already announced pledges to remove ownership limits fully on Industries such as insurance and autos within the next three to five years, China will also ease or scrap ownership caps on business including ship and aircraft manufacturing, power grids and the breeding of crops, excluding wheat and corn.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
