AGL 40.00 Decreased By ▼ -0.21 (-0.52%)
AIRLINK 126.90 Decreased By ▼ -0.74 (-0.58%)
BOP 6.69 Increased By ▲ 0.02 (0.3%)
CNERGY 4.49 Increased By ▲ 0.04 (0.9%)
DCL 8.65 Decreased By ▼ -0.08 (-0.92%)
DFML 41.00 Decreased By ▼ -0.16 (-0.39%)
DGKC 85.84 Decreased By ▼ -0.27 (-0.31%)
FCCL 33.02 Increased By ▲ 0.46 (1.41%)
FFBL 64.40 Increased By ▲ 0.02 (0.03%)
FFL 11.72 Increased By ▲ 0.11 (0.95%)
HUBC 111.87 Decreased By ▼ -0.59 (-0.52%)
HUMNL 15.20 Increased By ▲ 0.39 (2.63%)
KEL 5.17 Increased By ▲ 0.13 (2.58%)
KOSM 7.40 Increased By ▲ 0.04 (0.54%)
MLCF 40.33 No Change ▼ 0.00 (0%)
NBP 61.24 Increased By ▲ 0.16 (0.26%)
OGDC 192.50 Decreased By ▼ -1.68 (-0.87%)
PAEL 26.79 Decreased By ▼ -0.12 (-0.45%)
PIBTL 7.52 Increased By ▲ 0.24 (3.3%)
PPL 153.65 Increased By ▲ 0.97 (0.64%)
PRL 26.54 Increased By ▲ 0.32 (1.22%)
PTC 17.25 Increased By ▲ 1.11 (6.88%)
SEARL 86.26 Increased By ▲ 0.56 (0.65%)
TELE 7.68 Increased By ▲ 0.01 (0.13%)
TOMCL 33.88 Decreased By ▼ -2.59 (-7.1%)
TPLP 8.90 Increased By ▲ 0.11 (1.25%)
TREET 16.96 Increased By ▲ 0.12 (0.71%)
TRG 63.80 Increased By ▲ 1.06 (1.69%)
UNITY 27.90 Decreased By ▼ -0.30 (-1.06%)
WTL 1.31 Decreased By ▼ -0.03 (-2.24%)
BR100 10,103 Increased By 17 (0.17%)
BR30 31,235 Increased By 64.6 (0.21%)
KSE100 94,904 Increased By 140.2 (0.15%)
KSE30 29,424 Increased By 13.6 (0.05%)
Markets

China stocks rise as banks, infrastructure firms lend support

  • Leading the gains, the CSI300 banks index rose 2.1%, while the CSI300 infrastructure index added 2.6%.
Published March 22, 2021

SHANGHAI: China stocks climbed on Monday, underpinned by gains in the banking and infrastructure sectors after the country's central bank kept a key lending rate unchanged.

** The CSI300 index rose 0.7% to 5,042.82 points at the end of the morning session, while the Shanghai Composite Index gained 0.9% to 3,435.41 points.

** Leading the gains, the CSI300 banks index rose 2.1%, while the CSI300 infrastructure index added 2.6%.

** "Consumer, health care and new energy stocks had witnessed corrections recently, while financial stocks could provide support for the market, helping foster a slow long-term bull run," said Hu Yunlong, chief investment officer at Beijing Kaixing Asset Management Company.

** "The market is still looking for a direction, which remains unclear for now, as institutional investors continue to adjust their positions," he added.

** China kept its benchmark lending rate for corporate and household loans unchanged for an 11th straight month at its March fixing on Monday, matching market expectations.

** China's monetary policy needs to focus on supporting economic growth in a targeted way while also reducing financial risks, the central bank head said.

** Sino-US relations remained a point of focus for investors.

** US President Joe Biden "will be good for the relationship" between China and the United States, even though both sides might have "started a little on frosty side", former US Secretary of Defence William Cohen told a Beijing forum.

** China and the United States will set up a joint working group on climate change, China's official Xinhua news agency said, in a potentially positive takeaway from what was an unusually rancorous high-level meeting.

** In Hong Kong, the Hang Seng index dropped 0.2% to 28,939.53 points, while the Hong Kong China Enterprises Index gained 0.4% to 11,331.77 points.

Comments

Comments are closed.