Chinese equities closed higher on influx of foreign inflows

China’s benchmark index closed Friday at its highest level in four months as foreign investors continued to buy Chinese stocks for an eighth session on optimism that the world’s second-largest economy will experience a robust recovery after the pandemic . .

The CSI 300 index, which gathers the largest companies listed in Shanghai and Shenzhen, closed up 1.41%, hitting its highest level since September 13, while the Shanghai index rose 1.01 %.

Hong Kong’s Hang Seng Index closed up 1.04%.

For the week, the CSI 300 rose 2.3%, posting its third consecutive weekly gain. The Hang Seng also posted its fourth consecutive weekly gain, advancing 3.5% on the week.

“There is growing evidence that large parts of China’s population have already been infected and that the disruption is rapidly fading,” Julian Evans-Pritchard, senior economist at Capital Economics, said in a statement.

“Together with a broader move towards more growth-oriented policies, this points to a reopening starting this quarter and a stronger 2023 overall.” In TOKYO, the Nikkei index fell by 1.25% to 26,119 points.

. In HONG KONG, the HANG SENG index rose by 1.04% to 21,738 points.

. In SHANGHAI, the SSEC index gained 1.01% to 3,195 points.

. The CSI300 index, which brings together the largest companies listed in SHANGHAI and SHENZHEN, advanced by 1.41%, to 4,074 points.

. In SEOUL, the KOSPI index appreciated by 0.89%, to 2,386 points.

. In TAIWAN, the TAIEX index rose 0.63% to 14,824 points.

. In SINGAPORE, the STRAITS TIMES index gained 0.79% to 3,293 points.

. In SYDNEY, the S&P/ASX 200 index advanced 0.66% to 7,328 points.

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Source: Terra

Camila

Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.