Central Banks
Chinese Stocks Outperform in Asia on Bets for Policy Consistency
- Equity gauges in China and Hong Kong top gainers in Asia
- Traders welcome stability as key economic officials kept
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Chinese stocks rallied on Monday, outperforming the broader Asian market as traders bet on policy continuity after news that China’s economic leadership team would retain several familiar faces.
The moves to keep central bank Governor Yi Gang, Finance Minister Liu Kun and Commerce Minister Wang Wentao in place were pragmatic ones that may boost investor confidence at a time of uncertainty, analysts said.