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China stocks ‘explode’ strongest in 14 years thanks to support signal

Stock indexes on the Hong Kong and mainland China exchanges on March 16 had a strong increase, after the State Council of China pledged to maintain the stability of the stock market.

China stocks ‘explode’ strongest in 14 years thanks to support signal

Stock index table in Hong Kong, China, February 24, 2022. Photo: AFP/VNA

The Hang Seng Index on the Hong Kong Stock Exchange ended the session up 9.08%. Only HSCEI, which measures mainland Chinese companies listed on the Hong Kong Stock Exchange (H-share), rose 13% in the session, the biggest gain since 2008. A wide range of corporate stocks Chinese technology listed on the Hong Kong Stock Exchange had an explosive session, with shares of Alibaba and Tencent rising more than 21%.

On the mainland, the CSI 300 index closed up 4.32%, the strongest increase since July 2020. Previously, the CSI 300 lost 19% of its score from the beginning of the year to March 15, making mainland China one of the world’s worst stock markets.

The market got excited after showing positive support information. Xinhua News Agency quoted information from a meeting chaired by Chinese Vice Premier Liu He as saying that the government would keep the stock market operating stably and support companies listed abroad. The operator will also take supportive measures to stabilize the real estate market in mainland China.


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