Stocks in markets across Hong Kong and China recorded a substantial jump, especially in the metal and finance sectors, as the economies start showing signs of growth again. While metal prices were revived by the price of gold hitting an all time high, China's finance sector kicked up on the optimism that Beijing's easy monetary policies might just get extended till 2010.
A 0.92% jump was recorded by China's main stock index, taking it to the highest figure recorded in the past 3½ months, mainly on the back of carmakers, shares of who jumped high after Guangzhou Autoshow shared a much optimistic outlook for the sector.
Hong Kong's Hang Seng Index also closed 1.41%, or 315.55 points, higher, at 22,771.39 points. Despite this, the total turnover was recorded as HK$51.9 billion ($6.7 billion), the lowest since October 12 and down from Friday's HK$60.5 billion.
China, on the other hand, is definitely on the path to success. Experts are of the view that the country will achieve an 8.5% growth during the coming year, and there will be no major changes made to the lenient monetary policies currently followed.
topnews.com.sg
Tuesday, November 24, 2009
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