Mainland shares gain for third straight day

The stock market on the Chinese mainland rose for the third straight day on Thursday, boosted mainly by upbeat comments about the Chinese economy from the country’s top leaders as well as slightly better factory data.

The Shanghai Composite index edged up 0.13 percent to close at 2,606.24 while the blue-chip CSI300 index was up 0.74 percent. CSI 300’s financial sector sub-index gained 0.12 percent, the consumer staples sector up 1.98 percent and healthcare sub-index up 1 percent.

The smaller Shenzhen index was up 1.14 percent and the start-up board ChiNext Composite index was higher by 0.84 percent.

Chinese regulators will give higher ratings in annual risk evaluations to stock brokerages who are able to help ease listed companies’ margin call pressures, the official Shanghai Securities News reported on Thursday.

“The increase in volatility in capital markets has led to increased attention from policymakers, and a significant factor in worsening market expectations has been a concern over the direction of policy,” Chuancai Securities analysts said.

On Wednesday, the Political Bureau of the Communist Party of China Central Committee said in a meeting that the government would take more timely steps to support its economy, and would also resolve difficulties facing small and private firms.