China’s CSI 300 Poised to Enter Bull Market as Trading Resumes |
| Bloomberg - Jan 3, 2013 |
China’s stocks rose, with the CSI 300 (SHSZ300) Index poised to enter a bull market after rallying 20 percent from 2012’s low, as mainland markets traded for the first time this year. Insurers led the advance.
The CSI 300 added 0.6 percent to 2,536.95 as of 9:53 a.m. local time, while the Shanghai Composite Index gained 0.6 percent to 2,283.63. The Hang Seng China Enterprises Index (HSCEI) climbed 4.8 percent in Hong Kong during the previous two days, while the Bloomberg China-US Equity Index (CH55BN) of the most-traded Chinese shares in New York rose 2.2 percent, as data from manufacturing to service-sector growth signaled the economy is rebounding from its seven-quarter slowdown.
The CSI 300, a gauge of 300 yuan-denominated A shares listed in Shanghai and Shenzhen, has soared since reaching a three-year low Dec. 3, on speculation spending on infrastructure will stoke a recovery in the world’s second-biggest economy. Chinese manufacturing expanded for a third month in December, data released Jan. 1 showed, and the deal forged over the U.S. budget also boosted the outlook for the nation’s exports.
Read Full Article from Bloomberg
- Posted: 2013-01-03 21:16:51
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