Moscow. October 26.Asian stocks rise Monday, investors with optimism have reacted to stimulus measures from the Chinese Central Bank, reports Bloomberg.
The composite index of stock markets of the Asia-Pacific region MSCI Asia Pacific grows in the course of trading on 0,7%.
China’s Shanghai Composite rose 0.8%, the Japanese Nikkei 225 – on 0,9%, South Korean Kospi – by 0.1%. Meanwhile, the Australian S&P/ASX 200 and Hong Kong’s Hang Seng dropped 0.1%,
The people’s Bank of China (the Central Bank of the country) on Friday lowered interest rates on loans and deposits by 25 basis points to 4.35% and 1.5% respectively. Since November of last year, the cost of lending in China decreased for the sixth time. In addition, in order to maintain economic growth, the Chinese Central Bank eased reserve requirements and abolished the upper limit of interest rates on all Bank deposits.
“Ongoing measures to mitigate the monetary policy in China, obviously, is aimed at supporting economic growth of the country, and it is a powerful positive factor for the markets,” said analyst AMP Capital Investors, Shane Oliver.
Meanwhile, Beijing has started the next plenary session of the Central Committee of the Communist party of China. According to the forecast of economists by Bloomberg, the main topics for discussion at the Plenum will be the acceleration of reforms in the public sector and expanding efforts to combat environmental pollution.
Investments in environmental protection in 2016-2020 may be 10 trillion yuan ($1,57 billion), which is twice higher than in the previous five years, notes the analyst of Credit Suisse Group AG Trina Chen.
Monday show active growth of quotations of financial and commodity companies.
Shares of Haitong Securities and China Energy Co. gained more than 2%, the rate of securities Huatai Securities rose 4.8%, Ping An Bank – by 1.8%.
The Capitalization Of PetroChina Co. increased by 1.5%.
Share prices of Indian mobile operator Bharti Airtel fell by 0.2%. The company unexpectedly returned to profitability in the last quarter due to the sale of communication towers.
Shares Of Housing Development Finance Co. gained 0.5%. As expected, the largest company in India in the field of mortgage lending in the last quarter increased its net profit by 20%.