China's reform plan boosts stocks


Asian shares mostly rise following the release of China's economic reform plan on Friday, with Hong Kong-listed Chinese shares jumping 5.7%, the Shanghai Composite 2.9%, and the Hang Seng 2.7%.

Analysts at ANZ called the program "the biggest freeing up of China's economic policy since the 1990s." If implemented successfully, it would "substantially reduce the downside risks to China's economy."

Elsewhere in Asia, Japan flat after surging 7.7% last week, and India +2.2%.

Chinese ETFs: FXI, GXC, PGJ, FXP, HAO, YINN, TAO, CHIQ, CHIX, YANG, PEK, MCHI, XPP, CQQQ, QQQC, YAO, CHXX, CHII, CHXF, ECNS, CHIE, YXI, CHIM, ASHR, KFYP, KWEB, FCA, TCHI, CHNA

This was corrected on 11/18/2013 at 06:41 AM.
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Comments (1)
  • Mike Holt
    , contributor
    Comments (1836) | Send Message
     
    Imagine what would happen if the Chinese Communist Party was also to announce a 25% GDP growth target. It obviously wouldn't be achievable but what the CCP says seems to be more important than economic reality.
    18 Nov 2013, 07:56 AM Reply Like
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