Seeking Alpha

Chinese shares jump 2.2% as Asian stocks gain

  • Chinese shares led Asian shares higher, with the Shanghai Composite rising 2.2% as stocks built on yesterday's gains following the injection of liquidity into money markets by the People's Bank of China in order to avert a cash crunch. The PBOC is expected to add more funds in operations tomorrow.
  • "The cyclicals and the blue chips are leading the rebound today, which usually points at policy relief," says analyst Cao Xuefeng. "It's more a relief rally at this point."
  • In Japan, the Nikkei rose 0.2% after the BOJ again maintained its ultra-loose monetary policy as is.
  • Elsehwere, Hang Seng +0.05%, India +0.4%.
  • ETFs: FXI, PGJ, GXC, FXP, YINN, HAO, CYB, CNY, TAO, CHIQ, CHIX, ASHR, YANG, MCHI, PEK, KWEB, DSUM, CQQQ, QQQC, XPP, YAO, CHXX, CHII, FXCH, CHXF, ECNS, CHIE, YXI, CHIM, KFYP, FCA, TCHI, CHLC, CHNA
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