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Chinese stocks inched up on Thursday ahead of a weekend press briefing from the country’s finance minister, as the central bank launched a facility to make it easier to buy shares.
The benchmark CSI 300 index closed up 1 per cent on Thursday after closing down 7 per cent on Wednesday in its first loss in 11 consecutive sessions. Hong Kong’s Hang Seng index was up 3 per cent after posting its worst daily loss since 2008 on Tuesday and falling further on Wednesday.
The CSI 300 has surged more than 30 per cent since late September after the Chinese government unveiled a stimulus package to revive economic confidence. The rally started to fade this week as investors began to question the government’s plan to boost the economy and its capital markets.
“Buy everything China-related was what we observed over…
