Arab Today, arab today chinese shares higher tracking us gains on yellen comments
Last Updated : GMT 12:18:37
Arab Today, arab today
Arab Today, arab today

Chinese shares higher, tracking U.S. gains on Yellen comments

Arab Today, arab today

Arab Today, arab today Chinese shares higher, tracking U.S. gains on Yellen comments

China's stocks
Beijing - XINHUA

China's stocks rallied on Wednesday, with the benchmark Shanghai Composite Index up 2.77 percent to close at 3,000.64 points, tracking gains on Wall Street after U.S. Federal Reserve chair Janet Yellen signaled a cautious approach to a future interest rate hike.

The smaller Shenzhen index surged 3.48 percent to end at 10,445.69 points. The ChiNext Index, China's NASDAQ-style board of growth enterprises, rose 4.47 percent to close at 2,248.78 points.

Stocks increased across the board, with electronics, telecommunication equipment manufacturing and Internet finance leading the gains.

Shares of Guizhou Changzheng Tiancheng Holding Co. Ltd., an electronic product maker, surged by the daily limit of 10 percent to 12.42 yuan (1.90 U.S. dollars). Hithink RoyalFlush Information Network Co. Ltd. shares surged 8.2 percent to 79.19 yuan.

In other news, stock exchange filings showed late Tuesday that Wutongshu Investment Platform, which invests foreign exchange reserves, had been buying shares in two commercial banks. The news also helped boost market sentiment as investors believed the so-called "national team" was injecting cash into the market, analysts said.

Total turnover on the two bourses expanded to 628.4 billion yuan Wednesday, from 537.5 billion yuan on the previous trading day.

Overnight, Yellen's dovish comments lifted U.S. stocks, with the Dow Jones Industrial Average and S&P 500 rising to their highest close of 2016. The NASDAQ Composite Index jumped 79.84 points, or 1.67 percent, to 4,846.62.

Speaking at the Economic Club of New York, Yellen said the Fed needed to "proceed cautiously in adjusting policy" given global risks.

"Based on Yellen's description of the Federal Open Market Committee's neutral rate forecast, coupled with the actual rate of recovery in the neutral rate to date, the Fed is likely to raise rates just once this year [not the two hikes they expect] and no more than twice next year," said Chris Low, chief economist at FTN Financial.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today chinese shares higher tracking us gains on yellen comments Arab Today, arab today chinese shares higher tracking us gains on yellen comments

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today As Olympics loom, China plunges into snow biz

GMT 10:08 2017 Tuesday ,28 February

As Olympics loom, China plunges into snow biz
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Kalam Nawaem made a difference in social issues

GMT 06:43 2017 Tuesday ,28 February

Kalam Nawaem made a difference in social issues
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Parliament considers solutions to overpopulation

GMT 20:27 2017 Monday ,27 February

Parliament considers solutions to overpopulation
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Aspires present the story of Egypt’s first president

GMT 06:18 2017 Sunday ,26 February

Aspires present the story of Egypt’s first president
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:28 2017 Tuesday ,28 February

Dumbphones survive rise of the smartphone

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday