BEIJING, Oct. 8 (Xinhua) — The mixed turnover of China’s Shanghai and Shenzhen bourses reached 3.forty five trillion yuan (about 487.92 billion U.S. greenbacks) on Tuesday, surpassing the 2.59 trillion-yuan turnover recorded on Sept. 30 and hitting a brand contemporary excessive.
The benchmark Shanghai Composite Index went up 4.59 p.c to shut at 3,489.78 parts, whereas the Shenzhen Part Index closed 9.17 p.c greater at 11,495.1 parts.
Over 5,000 shares ended greater, with the server-operating-machine and semiconductor sectors main the features.
The ChiNext Index, tracking China’s Nasdaq-fashion board of growth enterprises, won 17.25 p.c to shut at 2,550.28 parts.
The market sentiment rose strongly on the Chinese language government’s announcement of a mix of policy measures including monetary stimulus and property market reinforce insurance policies to galvanize the economy’s rebound.
On Sept. 24, the Of us’s Monetary institution of China announced a gash within the reserve requirement ratio by 0.5 percentage parts for financial institutions. On Sept. 29, it announced a reduction within the mortgage rates for first properties, 2nd properties and more by no decrease than 30 basis parts below the mortgage top class by the live of this month.
On the the same day, China’s Ministry of Housing and Urban-Rural Construction moreover vowed reinforce to stabilize the staunch property market, by encouraging municipal governments, especially these within the first-tier cities, to leverage their resolution-making powers to attend a watch on the staunch property market, and alter insurance policies proscribing housing purchases in accordance with native instances.
China is confident of reaching the tubby-yr growth map, whereas mulling contemporary supporting insurance policies to attend the regular and wholesome financial growth, the country’s top financial planner suggested a press convention Tuesday.
More efforts will doubtless be made to bolster the capital market, by vigorously guiding medium and long-term funds into the capital market, promoting mergers and acquisitions amongst listed companies, as successfully as mulling over and introducing measures to present protection to exiguous and medium-sized investors, acknowledged Zheng Shanjie, head of the National Construction and Reform Commission. ■
