November 20, 2024 at 02:33 am EST
(MT Newswires) -- Chinese stocks continued their positive streak on Wednesday after officials assured Wall Street executives of more capital market reforms and the release of the central bank's benchmark lending rates.
The Shanghai Composite Index, the main gauge of Chinese stocks, increased 0.66%, or 21.98 points, to 3,367.99. The Shenzhen Component Index rose 0.78%, or 83.34 points to 10,827.19.
Chinese government officials vowed to open up the country's markets more to foreigners "to share in the success of China's economic development," People's Bank of China Deputy Governor and State Administration of Foreign Exchange chief Zhu Hexin was quoted by Reuters as saying.
China Securities Regulatory Commission Chairman Wu Qing said the government will also make it easy for investors in the country by carrying out supportive measures.
Meanwhile, the People's Bank of China's National Interbank Funding Center said the one-year loan prime rate stayed at 3.1% while the more than five-year loan prime rate is still at 3.6%.
In corporate news, YTO Express' (SHA:600233) shares closed 4% lower in Shanghai after it reported a 27% increase in express product revenue to 5.70 billion yuan in October.
Beijing Kingsoft Office Software (SHA:688111) closed 3% higher after its Hong Kong unit signed an advertising agreement with Xiaomi's (HKG:1810) Singapore arm for $7 million.
Sumber : MT Newswires
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