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Chinese and Hong Kong equities rally amid receding worries of a trade war
On Tuesday, the Chinese stock market demonstrated a considerable soar in the results of the trading session in the face of hopes that the resumption of talks between China and the United States will help to avert a trade war.
The CSI300 index, tracking the value of securities of the leading companies traded in Shanghai and Shenzhen, headed north 1.2% getting to 3,878.82. The Shanghai Stock Exchange's Shanghai Composite Index soared 0.8%, concluding at 3.161.59.
The subindex of the financial sector CSI300 soared by 1.67%, the consumer sector leapt 1.12%, the real estate sector gained by 2.47% and the healthcare sector slumped by 0.17%.
The smaller Shenzhen index concluded with a 0.77% soar, and the index of startups ChiNext Composite inched up 0.25%.
The largest percentage jump in the Shanghai Composite index was demonstrated by the equities of Beijing Aerospace Changfeng Co Ltd – they inched up by 10.03%. Kunshan Kersen Science & Technology Co Ltd and Chemistry Engineering Co Ltd soared 10.03%.
Aurora Optoelectronics Co Ltd declined 10%. Besides this Jiangsu Lugang Culture Co Ltd and JDM JingDa Machine Ningbo Co Ltd went down respectively 9.92 and 6.07%.
The Hong Kong stock market concluded today's trading also on positive territory that was facilitated by a weakening of worries as for the beginning of a full-scale trade war.
The index of Hong Kong Stock Exchange Hang Seng inched up by 1.4% hitting 30,402.81. Additionally, the index of Chinese companies traded in Hong Kong, rallied 1.5%, ending up with 12.144.79.
Subindex, which tracks equities of energy companies as part of Hang Seng, tacked on by 0.1%, while the information technology sector soared 2.64%. In addition to this, the financial sector rallied 1.29%, while the real estate sector acquired 1.34%.
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The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!