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The Chinese government reiterated Koon's support for the growth of the Chinese stock market.
(Bloomberg) -- Chinese stocks rose Monday as new regulatory support from the Chinese government protected the market from a selloff in Asian stocks. Bloomberg's top reads Israel vs. Iran - what a full-on war might look likeDe Keresas warns of possible power emergency next weekIran's missile attack is a mistake Israel could benefit fromIsrael's new approach to a multi-front war with IranA $150-billion fortune backs Qatar's royals at a critical timeThe Shanghai-Shenzhen 300 Index rose as much as 1.7%, with the The CSI 300 Index rose 1.7%.
(Bloomberg) - China's stock market rose Monday as the Chinese government renewed monitoring support to insulate the country from the Asian stock market selloff.
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The CSI 300 Index rose as much as 1.7%, with consumer and industrial stocks leading the way. The onshore benchmark is expected to end a seven-day losing streak.
The State Council on Friday pledged to tighten listing standards, crack down on illegal stock sales, and strengthen monitoring of dividend payouts. The measures come as China's stock market has weakened this month, as investors' focus has shifted back to the uncertain economic outlook and earnings growth.
"This round of reforms will help enhance the internal stability of the capital market and may have a positive impact on the market's performance in the medium to long term," wrote analysts at China International Capital Corporation (CICC), including Mr. Li Swing Shek, in a report.
Read: Lots of data to show if China's economic rebound is real
In Hong Kong, the Hang Seng China Enterprises Index fell as much as 1.4% as tensions in the Middle East hurt risk sentiment in the region, and the MSCI Asia Pacific Index also declined.
Amid other good news, China Vanke Co., the state-owned builder, is struggling amid slumping sales and deepening liquidity pressures.
Despite Monday's rise in the Shanghai-Shenzhen 300 index, April's performance remained flat, after two consecutive months of gains for the index.
Investors have been looking for a second act in the Chinese market as the impact of a series of previously announced support measures - from buying state-owned funds to cracking down on quantitative funds - has been felt.
The latest data suggests a sluggish economic recovery. Recent bright spots in the manufacturing sector have prompted economists at banks such as Goldman Sachs to raise their outlook for 2024, but disappointing export, inflation and credit data have caused investors to reassess their optimism.
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