China stocks rise for 6th straight day as poor data fans policy hopes
SHANGHAI Feb 16 (Reuters) - China stocks recorded their sixth straight session of gains in thin trading on Monday, as expectations of further government stimulus were reinforced by weak economic data ahead of the Lunar New Year holiday.
Data published late on Friday showed that China's January growth in broad money slumped to a record low of 10.8 percent, strengthening hopes that further loosening in monetary policies is imminent.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.9 percent, to 3,499.48, while the Shanghai Composite Index gained 0.6 percent, to 3,222.36 points.
Among the most active stocks in Shanghai were China United Network Communications Ltd, up 10.1 percent to 5.34 yuan; Bank Of China, down 0.5 percent to 4.09 yuan and China Shipbuilding Industry Co Ltd, up 2.1 percent to 8.79 yuan.
In Shenzhen, TCL Corp, up 8.4 percent to 4.88 yuan; BOE Technology, up 1.6 percent to 3.09 yuan and Suning Appliance, up 5.8 percent to 12.22 yuan were among the most actively traded.
Total volume of A shares traded in Shanghai was 22.3 billion shares, while Shenzhen volume was 16.6 billion shares. (Reporting by the Samuel Shen and Kazunori Takada; Editing by Jacqueline Wong)
© Thomson Reuters 2017 All rights reserved.