China stocks rise on expectations of easing after protests

China stocks rise on expectations of easing after protests

Chinese stocks reversed recent losses on Tuesday, with investors betting that signs of civil discontent could prompt an easing of tight restrictions against Covid-19.

The market also celebrated an easing of regulations on raising funds for developers.

The CSI 300 index, which brings together the largest companies listed in Shanghai and Shenzhen, closed up 3.09%, marking the best session in three weeks, while the Shanghai index rose 2.31%, to a two-week high.

Hong Kong’s Hang Seng Index was up 5.24%, and tech stocks jumped nearly 8%.

Tuesday’s euphoria erased the despair of the previous session, when worries about rising Covid-19 infections and signs of unrest had rattled markets.

Police began investigating some of the protesters on Tuesday.

“The government should be concerned about widespread discontent. If crackdown is not the choice, reopening is the option,” said Yuan Yuwei, hedge fund manager at Water Wisdom Asset Management.

  • In TOKYO, the Nikkei index fell 0.48% to 28,027 points.
  • In HONG KONG, the HANG SENG index rose 5.24% to 18,204 points.
  • In SHANGHAI, the SSEC index gained 2.31% to 3,149 points.
  • The CSI300 index, which brings together the largest companies listed in SHANGHAI and SHENZHEN, advanced 3.09%, to 3,848 points.
  • In SEOUL, the KOSPI index appreciated by 1.04%, at 2,433 points.
  • In TAIWAN, the TAIEX index rose by 1.05% to 14,709 points.
  • In SINGAPORE, the STRAITS TIMES index gained 1.12% to 3,276 points.
  • In SYDNEY, the S&P/ASX 200 index advanced 0.33% to 7,253 points.

Source: CNN Brasil