BUSINESS China, US markets encouraged by trade hopes

BUSINESS

China, US markets encouraged by trade hopes

China Daily

13:33, November 02, 2018

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File Photo

China, US markets enjoyed good performances on Friday after the China-US phone call on Thursday, as Chinese currency yuan strengthened and stocks increased.

For the foreign exchange market, the central parity rate of yuan strengthened by 299 basis points to 6.9371 against the US dollar Friday, according to the China Foreign Exchange Trade System.

Chinese stocks opened higher on Friday, with the benchmark Shanghai Composite Index up 1.65 percent to open at 2,649.25 points. The Shenzhen Component Index opened 2.59 percent higher at 7,763.49 points.  

Hong Kong stocks gained 564.44 points, or 2.22 percent, to open at 25,980.44 points.  

The ChiNext Index, China's NASDAQ-style board of growth enterprises, was up 3.28 percent to open at 1,328.46 points.

FTSE China A50 Index opened 3.2 percent higher to 11,342.91 points.

Civil Aviation and technology stocks all rose greatly with three major airlines up eight percent and AI related stocks up seven to eight percent.


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