China stocks rise on policy support optimism, U.S. rebound

miércoles 22 de octubre de 2014 00:28 GYT
 

* CSI300 index up 0.4 pct

* Shanghai index up 0.4 pct

* HSI up 1.3 pct, set for best gain since early Sept

SHANGHAI, Oct 22 (Reuters) - China shares rose on Wednesday, driven by hopes of more stimulus on the mainland to support a slowing economy and by a rebound in U.S. stock markets.

The CSI300 index of the largest companies listed in Shenzhen and Shanghai rose 10.022 points, or 0.41 percent, in the morning session to 2,443.413, the Shanghai Composite Index gained 8.8227 points, or 0.38 percent, to 2,348.4797.

"The rise can be attributed to the market's bullish sentiment on more policy support to come in the future," said Du Changchun, an analyst at Northeast Securities in Shanghai.

"Investors are closely watching the ongoing party meeting."

China posted 7.3 percent GDP growth in the third quarter, official data showed on Tuesday, putting its official 7.5 percent annual growth target at risk, and leading many economists to intensify calls for more monetary easing.

Chinese stock markets are usually more responsive to liquidity conditions than economic fundamentals, and stock market investors are closely watching to see whether slowing growth will prompt the central bank to boost money supply through a cut in bank reserve requirement ratios.   Continuación...