BEIJING, Feb. 25 -- Major stock indices in China surged more than 5 percent Monday led by the financial sector.
The benchmark Shanghai Composite Index started the day with a 1.22-percent gain and maintained the upward trend throughout the day to surge 5.6 percent to close at 2,961.28, the highest closing since mid-June 2018.
Trading volume of stocks in the index soared from Friday's 264.5 billion yuan (39.4 billion U.S. dollars) to 466 billion yuan, the highest turnover in more than three years.
The benchmark index has rebounded 18.74 percent since the beginning of the year and surged more than 21 percent from this year's lowest point of 2,440.91 points seen in early January, which marked the entry into "a technical bullish cycle" by some analysts.
The Shenzhen Component Index closed 5.59 percent higher at 9,134.58 points, the highest closing since the end of July 2018, and the turnover of stocks in the index reached an all-time high of 574.6 billion yuan.
China should deepen supply-side structural reform in the financial sector and strengthen the sector's ability to serve the real economy, and economy and finance are interdependent and should grow and thrive together, according to a study session of the Political Bureau of the Communist Party of China Central Committee on Friday.
On Monday, the financial sector was the strongest among all sectors, with the sub-index surging 9.11 percent and all securities brokerage firms surging by the daily limit of 10 percent.
The sector's strength came as the China Banking Association (CBA) and the Securities Association of China both planned to lower the costs of their member institutions, with the CBA expecting to reduce membership fees by 14.5 million yuan in 2019.
Although both plans are designed for the members of the two associations, they have lifted market expectations for industry-wide stimulus in the future.
The ChiNext Index, China's NASDAQ-style board of growth enterprises, gained 5.5 percent to close at 1,536.37 points.
Storm strands tourists at Great Wall, killing 3
A bird? A plane? No, a Wingsuit champion
Beijing has faith in EU efforts
Do or die: Final campaign day dawns
Guangzhou considers plastic surgery ban for minors
Footwear fumble sees PM falling head over heels
Striking distance?
Australia to cash in on China's economic growth
Chocolate makers seek sweet success in China
Voters finally cast their ballots in cliffhanger presidential race
Polite society?
Rarest of whales washes up in NZ
Cell phones pinpoint locations
Free bus rides offered to ease road congestion
Man's passion documents bicycle culture
Artist searches for former nanny in Shanghai
Clashes flare in Lebanon as crisis worsens
Drone bases will monitor seacoasts
Lost tourist spends month sleeping in station
Passengers to surf Web in the sky
Susan Boyle's rise to fame tempered by reality
Driver injured by protester sues Xi'an police
Miracle water causes a frenzy, but leaves locals thirsty
Cardinal rule?
Shenzhen Metro disruption leads to calls to ban Wi-Fi devices on subways
US officials back Japan alliance
喜欢吃路边摊的请举手
Bad sport?
Can’t say the same?
Altitude illness victim's parents say goodbye
不限 |
英语教案 |
英语课件 |
英语试题 |
不限 |
不限 |
上册 |
下册 |
不限 |