China shares hit 5-yr high on Li's policy remarks; HK up too

lunes 16 de marzo de 2015 00:39 GYT
 

* CIS300 +1.9 pct; SSEC +1.8 pct; HSI +0.5 pct

* Premier's remarks boosts investors hopes on easing policies

* Shares of FAW units fall on news that Chairman under probe

SHANGHAI, March 16 (Reuters) - Chinese shares rose nearly 2 percent on Monday morning, reaching five-year-highs, after Premier Li Keqiang said that Beijing had plenty of scope to adjust policies in order to boost the world's second largest economy.

Li told a news conference in Beijing on Sunday that China's room for policy manoeuvre is "relatively big", and could choose from "comparatively many" policy tools.

He also assured his audience that policymakers would prop up the economy if growth was at risk of breaching a "lower limit", or hurt employment and income gains.

"The premier's remarks are really encouraging," said Tian Weidong, analyst at Kaiyuan Securities in Xi'an in northwest China.

"Investors have nothing to fear now because the message is that if economic growth continues to slow, there will be more stimulus measures."

The CSI300 index rose 1.9 percent, to 3,687.95 points at the end of the morning session, while the Shanghai Composite Index gained 1.8 percent to 3,434.31 points, the highest level since August 2009.   Continuación...