Asian market’s outlook . .

 

Chinese stocks climbed the most in more than a week after the new head of the securities regulator signaled he will keep propping up the equity market and developers announced acquisitions.Liu Shiyu, chairman of the China Securities Regulatory Commission, said it was too early to think about the state rescue fund leaving the market, while a new registration-based system for IPOs would take time. Data over the weekend showed the nation’s industrial production and retail sales both grew less than economists forecast in the first two months of 2016, while China’s broadest measure of new credit for February came in less than half of the estimate in a Bloomberg survey.

The Shanghai Composite rose to 2,859.50 at the close. The Chi-Next Index of smaller companies jumped 4.6%, the most in six weeks. The Hang Seng China Enterprises Index climbed 1.4%  in Hong Kong, while the Hang Seng Index advanced 1%.

 

Industrial Output

 

China Overseas Land gained 2.5% after saying it will pay about 31 billion yuan for residential assets held by Citic, China’s biggest conglomerate. Citic has been seeking to unlock value from its land portfolio over the past year.Aggregate financing was at 780.2 billion yuan in February, according to a report from the People’s Bank of China on Friday, compared with the median forecast of 1.84 trillion yuan in a Bloomberg survey. New yuan loans were 726.6 billion yuan, compared to the estimate of 1.2 trillion yuan.

A gauge of technology companies rallied 3.8%, the biggest gain among industry groups on the CSI 300 index, which increased 1.6%. Searainbow Holding Corp. and Hundsun Technologies Inc. soared by the 10% daily limit. Industrial and consumer-discretionary share sub-indexes added at least 2.6%.

MTR Corp. advanced 2.5 percent after Hong Kong lawmakers approved additional funding for an express rail link to the mainland and the company’s profit in 2015 topped estimates.

Asian market’s 

Name Price Change % Change 1-Day
Nikkei 225 17,233.75 +294.88 +1.74%
Hang Seng Index 20,435.34 +235.74 +1.17%
SSE Composite Index 2,859.50 +49.19 +1.75%
Straits Times Index 2,851.09 +22.23 +0.79%
S&P/ASX 200 5,185.50 +19.10 +0.37%

 

 

J.Mason. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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