www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Markets

Equities defy contraction in production to hit 7 year high

(Agencies) Updated: 2015-05-22 11:28

Equities defy contraction in production to hit 7 year high

Investors check share prices at a brokerage in Haikou, capital city of Hainan province. Stocks on the Chinese mainland rose to a seven-year high on Thursday as continous production contraction has boosted speculation of more stimulus efforts. [Photo/China Daily]

Stocks on the Chinese mainland rose to a seven-year high on Thursday as a gauge of factory output showed production contracting for a third straight month, boosting speculation that the government will escalate efforts to stimulate the economy.

China Cosco Holdings Co and China Shipping Development Co both jumped by the 10 percent daily limit after the two companies said they plan to form a venture in Singapore.

Fiberhome Telecommunication Technologies Co advanced 2.2 percent after the government said it will accelerate construction of a broadband network.

The Shanghai Composite Index climbed 1.9 percent to 4,529.42 points at the close, the highest since February 2008.

The preliminary Purchasing Managers Index from HSBC Holdings Plc and Markit Economics was 49.1 for May, missing analysts' estimates.

"The worse the data, the more speculation that more monetary stimulus will be coming," said Wei Wei, an analyst at the West China Securities Co in Shanghai. "The market has a consensus that the economy won't pick up any time soon so the impact of the economic data isn't too big."

The CSI 300 Index rose 1.8 percent. Hong Kong's Hang Seng China Enterprises Index fell0.7percent, while the Hang Seng Index lost 0.2 percent. The Bloomberg China-US Equity Index, the measure of the most-traded United States-listed Chinese companies, added0.2percent inNew York on Wednesday.

Trading volumes in the Shanghai Composite were 17 percent lower than the 30-day average. The index has surged 124 percent in the past 12 months amid speculation the government will extend interest-rate cuts and accelerate reforms of State-owned enterprises to bolster growth.

The measure is valued at 17.3 times the projected 12-month earnings, compared with the five-year average multiple of 10.2, according to data compiled by Bloomberg.

The preliminary manufacturing index, known as the flash PMI, missed the median estimate of 49.3 in a Bloomberg survey. Numbers below 50 indicate contraction. Manufacturing output slipped to a 13-month low, the PMI report showed, while employment continued to shrink.

The government has escalated efforts to prevent a hard landing in the world's second-biggest economy, adding fiscal loosening to monetary easing. In the latest moves, it relaxed financing rules for local governments in a bid to boost demand for credit, while three interest-rate cuts since November aim to lower borrowing costs.

"The policy easing hasn't shown an effect yet," said Ding Shuang, chief China economist at Standard Chartered Plc in Hong Kong, adding that he expected the economy to stabilize in the third quarter. "Credit supply has been sufficient, but demand has remained weak."

The CSI 300 consumer-staples index climbed 3.6 percent to an all-time high.

China's mutual funds have "just" started to become net buyers of stocks, the China Securities Journal reported, citing people from multiple larger fund firms.

Some funds started to have more buyers than sellers "just a while ago" after facing pressure from selling orders during the bull market, according to the report.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 久久久亚洲国产精品主播 | 萌白酱粉嫩jk福利在线观看 | 亚洲视频 欧美视频 | 手机免费看a | 精品国产中文一级毛片在线看 | 欧美最猛性xxxxx亚洲精品 | 国产亚洲精品自在久久77 | 久久精品呦女 | 国产美女一区精品福利视频 | 欧美.亚洲.日本一区二区三区 | 欧美一二区 | 成人亚洲欧美日韩在线 | 日本免费一区二区三区毛片 | 97精品在线视频 | 操美国女人 | 极品美女写真菠萝蜜视频 | 久草最新网址 | 精品欧美小视频在线观看 | 午夜免费69性视频爽爽爽 | 久久久精品免费观看 | 天天综合天天看夜夜添狠狠玩 | 国产精品免费看久久久 | 国产呦系列呦交 | 亚洲午夜免费 | 日本不卡在线一区二区三区视频 | 一级黄视频 | 欧美xxxxx九色视频免费观看 | 七七国产福利在线二区 | 欧美特黄aaaaaa | 国产精品正在播放 | 国产国语一级毛片全部 | 国产香蕉在线视频一级毛片 | 久久久久久久岛国免费观看 | 久久成人国产精品免费 | 亚洲成人一区 | 国产美女在线精品亚洲二区 | 中文字字幕码一二区 | 亚洲免费视频在线观看 | 日本久久综合网 | 偷自拍第一页 | 天堂素人搭讪系列嫩模在线观看 |