China shares jumped to one-week high amid optimism over US stimulus measures

US, WASHINGTON (ORDO NEWS) — Chinese stocks hit a weekly high on Wednesday after US senators and presidential administration officials reached an agreement on a massive package of economic support measures.

The Shanghai Composite Index rose 2.2% to 2.781.59 points. The blue chip index CSI300 added 2.7% to 3,722.52 points. Both indices during the session peaked since March 18.

The sub-index of the financial sector grew by 2.3%, the consumer goods sector – by 2.1%, the real estate index – by 5%, and the health sector – by 3.4%.

Hong Kong’s Hang Seng Index rose 3.8% to 23.527.19 points, while the Hang Seng China Enterprises Index rose 3.8% to 9.529.49 points.

US presidential aide Donald Trump Eric Welland said Wednesday that senators and administration officials have agreed on a package of measures that is expected to be $ 2 trillion. Congress may vote on the bill as early as Wednesday.

Mainland China reported a decrease in the number of newly confirmed cases of coronavirus infection on Wednesday due to a slowdown in “importation” of the infection and the absence of domestic transmission, including in the central province of Hubei, the epicenter of the outbreak.

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