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China Stocks hit 21-month high after holiday

Capital Market 

The Mainland finished session sharply higher on first trading day after a week-long holiday break, Monday, 09 October 2017, underpinned by a reserve requirement ratio rate cut by the country's central bank for banks. Sectors rallied across the board, with gains led by banking and real estate stocks, as investors responded to the central bank's targeted reserve requirement rate cut, to be effective next year, to boost lending to small firms.

The Shanghai Composite Index rose 0.76% to 3,374.38 while the CSI 300 - which tracks the large caps listed in Shanghai and Shenzhen - gained 1.19% to 3,882.21. The Shenzhen Composite Index increased 1.3% to 2,014.43, and the Nasdaq style ChiNext was up 1.2% to 1,889.84.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, October 09 2017. 16:09 IST