HONG KONG: Shanghai stocks rallied Wednesday despite the MSCI’s decision not to include the market in its key index of global benchmarks, leading to speculation the government stepped in to prevent a sharp sell-off.
The Shanghai Composite Index rose 1.58 percent, or 45.02 points, to 2,887.21, having fallen more than one percent in initial trading. The Shenzhen Composite Index, which tracks stocks on China’s second exchange, jumped 3.12 percent, or 57.24 points, to 1,889.87.
And the Hang Seng Index added 0.39 percent, or 79.99 points, to 20,467.52.
Copyright AFP (Agence France-Presse), 2016
Courtesy : BRecorder