Rally in fi­nan­cial stocks lifts bench­markindex tonewhigh

China Daily (Canada) - - BUSINESS -

The bench­mark stock in­dex in China rose, send­ing a gauge of fi­nan­cial shares to a six-year high onWed­nes­day, on spec­u­la­tion the gov­ern­ment will loosen mon­e­tary pol­icy and ease cap­i­tal re­quire­ments that may al­low bro­ker­ages to boost mar­gin lend­ing. CITIC Se­cu­ri­ties Co and Haitong Se­cu­ri­ties Co, the largest bro­ker­ages, surged at least 8.4 per­cent. The Shang­hai Com­pos­ite In­dex climbed 1.3 per­cent to a four-year high of 3,061.02 at the close, even as three stocks slid for each one that gained. Its 30-day vo­latil­ity jumped the most in four years after sur­pass­ing the 3,000 level on Tues­day.

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