Stock market Illustration: VCG
China’s A-share market staged a strong rally in the afternoon session on Wednesday, with the benchmark Shanghai Composite Index rebounded to close at more than 3,400 points, the highest in nearly two months.
Market analysts noted that the latest trade agreement reached between senior Chinese and US economic officials in Geneva, Switzerland, has largely lifted market sentiment. The two countries reached a deal to slash their previous prohibitive tariffs by 115 percent.
And, with the continued policy support and steadily improving economic fundamentals in China, foreign investors are increasing their bets on Chinese equities and other assets, bolstering expectations for further gains in the country’s capital market.
At the close, the Shanghai Composite Index rose by 0.86 percent to close at 3,403.95, the Shenzhen Component Index gained 0.64 percent, and the ChiNext Index climbed 1.01 percent. Combined…
