Chinese stocks rose on Friday, led by semiconductor and commodity stocks, as the central bank chief said the country would meet this year’s growth target, also helping investor sentiment.
The CSI300 index, which brings together the largest companies listed in Shanghai and Shenzhen, rose 0.57%, while the Shanghai index rose 0.6%. Hong Kong’s Hang Seng index gained 0.46%.
For the week, the CSI 300 is down 0.8% while the Hang Seng Index is up 0.5%.
Other Asian stocks rallied as Singapore became the latest country to ease monetary policy tightening and markets grew more confident that the next likely hike in US interest rates will be the last of this cycle.
China’s economy is expected to grow about 5 percent this year, People’s Bank of China Governor Yi Gang said in comments released on Friday, in line with the government’s annual target.
. In TOKYO, the Nikkei index advanced by 1.20%, to 28,493 points.
. In HONG KONG, the HANG SENG index rose by 0.46% to 20,438 points.
. In SHANGHAI, the SSEC index gained 0.60% to 3,338 points.
. The CSI300 index, which collects the largest companies listed in SHANGHAI and SHENZHEN, advanced by 0.57%, to 4,092 points.
. In SEOUL, the KOSPI index appreciated by 0.38%, to 2,571 points.
. In TAIWAN, the TAIEX index rose 0.79% to 15,929 points.
. In SINGAPORE, the STRAITS TIMES index gained 0.25% to 3,302 points.
. In SYDNEY, the S&P/ASX 200 index advanced 0.51%, to 7,361 points.
Source: Terra
Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.
