Chinese Stock Rally Resumes as Xi, PBOC Fuel Policy Optimism
- CSI 300 gains 3.6% after falling into correction on Thursday
- PBOC gives details on relending, swap facility for stocks
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Chinese stocks extended gains in the afternoon as President Xi Jinping’s emphasis on technology development and a slew of central bank statements reignited optimism over policy support.
The CSI 300 Index closed up 3.6%, rebounding from a three-day loss, with chip shares leading the advance. A gauge of Chinese tech stocks listed in Hong Kong was up more than 7% at its session high.