Chinese Stocks Break NPC Jinx With Bold Growth Goal, Tech Rally
- MSCI China gauge rises on first day of NPC in rare feat
- Beijing sets bullish growth aim of about 5% despite US tariffs
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Chinese stocks climbed on Wednesday, with technology names driving the gain after Beijing vowed more support for the sector and set an ambitious economic growth target as the nation’s most important annual political gathering got underway.
The MSCI China Index rose as much as 2.7% and was headed for its best gain in a week. It had declined on the first trading day of the National People’s Congress for each of the past five years. A gauge of shares listed in Hong Kong climbed 3.1%, with a measure of tech stocks up 4%.