Shares in mainland China surged on Tuesday, as a signal of an infrastructure boost from Beijing outweighed comments from U.S. President Donald Trump on the ongoing trade war between the two economic powerhouses.
The Shanghai composite rose 2.58% to close at about 2,925.72 and the Shenzhen component jumped 3.74% to finish its trading day at 9,037.67. The Shenzhen component soared 3.708% to close at 1,538.23. The CSI 300, which tracks the largest companies on the mainland, also gained 3.01% to close at approximately 3,719.28.
The moves on the mainland came after state news agency Xinhua reported Monday that China would enable local governments to use special bonds to finance certain investment projects, citing a “notice on local government bonds.”
Over in Hong Kong, the Hang Seng index added 0.83%, as of its final hour of trading. Hong Kong-listed shares of China Construction Bank rose 1.43%.
Elsewhere, Japan’s Nikkei 225 close 0.33% higher to close at 21,204.28, while the Topix index added 0.54% to finish its trading day at 1,561.32. South Korea’s Kospi rose 0.59% to close at 2,111.81 as shares of LG Electronics soared 6.03%.
Over in Australia, shares traded higher after returning from a holiday. The ASX 200 advanced 1.59% to close at 6,546.30 as most sectors saw gains.Read More
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