China Equities Surge Higher After Supportive Policies Announced

It has been another volatile trading session for China equities, with multiple headlines out in support of the markets, most notable surrounding the nations Sovereign wealth fund vowing to increase their holdings in ETFs, while the securities watchdog is encouraging more share buy backs. President Xi is also set to be briefed by the Chinese regulators on Financial Markets, raising hopes of further support/stimulus measures.

Markets initially opened lower this morning, however a sharp reversal occurred after multiple market supporting headlines printed. In Hong Kong the HSI is 3.100% higher while the Tech index is higher by 5.20% and mainland property index trades3.30% higher. China Mainland Equities are all higher today, the CSI 300 is 3.00% higher, while the ChiNext index is 5.20% higher after being down 1.30% on the open, CSI 1000 also reversed the morning move lower to trade 4.5% higher.