Close, Shanghai overall index At 3,633.99 points was 0.45% above, which marks the third straight session of the profit, and booking the highest closed since 31 December, 2021. Meanwhile, the Blue-Chip CSI300 index was 0.24% above.
Defense and coal stocks increased by 2.65% and 2.21% respectively.
US President Donald Trump said on Tuesday that the US was close to a trade deal with China and would meet his Chinese counterpart, Xi Jinping, if an agreement is reached before the end of the year.
“We are getting very close to a deal. We are meeting with China very well,” said Trump.
Mathews Asia’s portfolio manager Winnie Chwang said that investors would like to see more clarity than China-US trade talks. “I think, while the Chinese markets are a little more interested in seeing again, there are still investors who sit on the fence, mainly still see the uncertain nature of business, and it is very difficult to predict any kind of confidence,” Chwang said. BNP ParibasSaid that China’s decision to re-emuce the price-added tax on the interest rate income from the new treasury, local government and financial bonds encouraged the re-allocation to the fund.
Louis said, “By re -implementing VAT, policy makers may have aiming to redirect the funds from the rates market to equity and credit market.” “This step will also align with commitment to strengthen the speed of improvement capital Market ‘as mentioned by the latest Polit Bureau meeting. ,
In Hong Kong, the Benchmark Hang Seng index rose 0.03% at 24,910.63, while the Hang Seng China Enterprises index fell 0.21% to 8,932.68 points.
Separately, the market focus will move to a link of domestic economic data later this week, including trade on Thursday and inflation on Saturday, which will give clues to the health of the economy.
A Roots The pole showed that China’s export growth was probably slow in July, as manufacturers wait for clarity whether Beijing could reach a deal with its top consumer market, the United States, or if Trump will restore additional tariffs on goods from China.