March 7, 2016 / 7:14 AM / 5 months ago

China stocks rise slightly on stimulus hopes; trade war uncertainty limits gains

SHANGHAI, Sept 24 (Reuters) - China stocks rose on Tuesday as policymakers promised additional measures to bolster a slowing economy, but lingering uncertainties around the U.S.-China trade talks capped gains. ** The blue-chip CSI300 Index and the Shanghai Composite Index both rose 0.3% to 3,901.08 and 2,985.34, respectively.

** Chinese investors are optimistic about the prospects of more fiscal stimulus, after Ning Jizhe, a vice head of the state planner, told a press conference in Beijing that China would step up efforts to stabilise economic growth.

** But optimism was tempered by the central bank’s reiteration that monetary policy will remain prudent. Yi Gang, governor of the People’s Bank of China, said at the same conference that authorities were in no rush to take big policy easing steps to cope with downward pressure on the economy.

** “What’s certain, is that more easing, and counter-cyclical measures, are needed,” said Yang Hongxun, a Shanghai-based analyst at investment consultancy Shandong Shenguang. “That would be good news for assets such as stocks.”

** Uncertainties around the Sino-U.S. trade talks also weighed on the market.

** The cancellation of a planned trip by Chinese officials to U.S. farming regions after trade talks last week was originally interrupted as an ominous sign in the negotiations, but Treasury Secretary Steven Mnuchin said the trip was delayed at the administration’s request to avoid confusion over the talks.

** Meanwhile, in a sign of Beijing’s goodwill ahead of senior-level negotiations in early October, Chinese importers bought about 10 boatloads of U.S. soybeans on Monday following deputy-level trade talks in Washington last week.

** Telecommunications, tech, and consumer stocks rose on Tuesday, but energy and industrial plays fell. (Reporting by Shanghai Newsroom; Editing by Subhranshu Sahu)

Nuestros Estándares:Los principios Thomson Reuters
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below