Chinese Stocks Extend Gains in Afternoon as ETF Turnover Spikes
- Mainland-listed shares climb while those in Hong Kong fall
- China’s 5% growth traget a disappointment to some investors
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Some exchange-traded funds tracking Chinese stocks saw a surge in turnover, a sign that state-backed funds are supporting the market after some investors expressed disappointment with the government’s growth target.
The CSI 300 Index of mainland shares extended gains in the afternoon to close 0.7% higher, taking its advance this year to nearly 4%. In contrast, the Hang Seng China Enterprises Index slumped 2.6% on Tuesday, with tech and healthcare stocks leading the decline.