23 Jul 2015
Shanghai Composite index set to rise for the sixth consecutive session
FXStreet (Mumbai) - The Chinese stock markets strengthened on Thursday morning, with the Shanghai Composite index poised to rise for the sixth consecutive session.
The index is up 1.8% currently at 4098.39. The CSI300 index rose 1.3%, to 4,212.45 points at the end of the morning session. The Hong Kong market is also moving in tandem with its mainland counterpart.
Sentiment was lifted, after the China Securities Finance Corp, the state margin lender tasked with propping up wobbly share prices, told state media on Thursday that it would continue to support the market, while denying it had sold shares in certain companies.
Among stocks, China Mobile, China Telecom and China Unicom fell, the government ordered the three telecom operators to complete broadband fee cuts by the end of October.
The index is up 1.8% currently at 4098.39. The CSI300 index rose 1.3%, to 4,212.45 points at the end of the morning session. The Hong Kong market is also moving in tandem with its mainland counterpart.
Sentiment was lifted, after the China Securities Finance Corp, the state margin lender tasked with propping up wobbly share prices, told state media on Thursday that it would continue to support the market, while denying it had sold shares in certain companies.
Among stocks, China Mobile, China Telecom and China Unicom fell, the government ordered the three telecom operators to complete broadband fee cuts by the end of October.