Shares of China in positive territory against the backdrop of the Fed
US, WASHINGTON (ORDO NEWS) — Chinese stocks rose Tuesday after the U.S. Federal Reserve announced a series of measures to alleviate the global financial crisis, with growth limited due to a sharp increase in the number of new cases of coronavirus in China.
The Shanghai Composite Index closed at 2.3% to 2.722.44 points.
The blue chip index CSI300 added 2.7% to 3.625.11 points. At the same time, the sub-index of the financial sector grew by 2.7%, the consumer goods sector – by 3.5%, the real estate index – by 2.7%, and the health sector – by 3.3%.
The Hong Kong Hang Seng Index rose 4.46% to 22.663.49 points, while the Hang Seng China Enterprises Index rose 4.94% to 9.184.44 points.
The Federal Reserve on Monday introduced a range of programs for large companies, households, and small businesses, citing the “huge difficulties” facing the economy due to the coronavirus pandemic.
China reported that the number of new cases of coronavirus infection doubled due to the increased number of infected travelers returning home from abroad.
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