Seeking Alpha

Chinese stocks jump to 2-month high

  • The 2.4% gain in the Shanghai Composite was led by a 5.7% jump in energy producers (CHIE) and a 3.8% move in financial stocks (CHIX).
  • Ag Bank will provide a $40.5B loan to Shanghai to support infrastructure projects, according to a local report, and word is other banks may quickly follow suit in other regions of the country.
  • Also having a good day are real estate developers (TAO) as the country's securities regulator may soon lift a ban on these firms being able to raise money through share sales.
  • China equity ETFs: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP.
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