China stocks have very big day, up 3.1%

Tuesday, January 15, 2013

The Shanghai Composite Index rose 3.1 per cent, and the Shenzhen Composite 3.6 per cent, led by financial and property shares.

The reason?? A report surfaced that the roll-out of a pilot property tax might be delayed.

Chinese shares listed in Hong Kong, which have been climbing ahead of the mainland markets in recent months, were up 1.3 per cent.

The Hang Seng China Enterprises Index is at its highest level for a year, whereas the most important mainland index, the Shanghai Composite, is still down on the last 12 months, despite its recent sharp recovery.

International investors, buoyed by the improvement in global sentiment, are driving the market up faster than mainland Chinese investors, who are more focused on domestic issues, including policy announcements.

Source: http://www.proactiveinvestors.com.au/companies/news/38199/china-stocks-have-very-big-day-up-31-38199.html

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