Shares in Shanghai closed at a nine-month high on Monday, as Chinese March house price data and signs of a recovery in corporate earnings stoked optimism ahead of first-quarter economic data releases.
The CSI300 index, which gathers the largest companies listed in Shanghai and Shenzhen, rose 1.4%, while the Shanghai index rose 1.42%, the biggest jump in two months, reaching the strongest level since July 8. Hong Kong’s Hang Seng index rose 1.68%.
Prices of new homes in China rose at the fastest pace in 21 months in March, official data showed on Saturday.
Meanwhile, more than 300 listed companies in China have released or forecast first-quarter earnings, with 70% of them reporting year-on-year earnings increases, Securities News reported.
“The stock market is likely to trend higher due to the economic recovery and expectations of improvement in the overseas liquidity situation,” Guotai Asset Management Co said in a statement.
. In TOKYO, the Nikkei index advanced 0.07%, to 28,514 points.
. In HONG KONG, the HANG SENG index rose by 1.68% to 20,782 points.
. In SHANGHAI, the SSEC index gains 1.42% to 3,385 points.
. The CSI300 index, which brings together the largest companies listed in SHANGHAI and SHENZHEN, advanced by 1.40%, to 4,149 points.
. In SEOUL, the KOSPI index appreciated by 0.17%, to 2,575 points.
. In TAIWAN, the TAIEX index rose 0.21% to 15,963 points.
. In SINGAPORE, the STRAITS TIMES index gained 0.50% to 3,319 points.
. In SYDNEY, the S&P/ASX 200 index advanced 0.27% to 7,381 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.
