Chinese stocks rose on Wednesday after the country’s top parliamentary body approved an additional 1 trillion yuan ($137 billion) sovereign bond issue to support the economy.
The boost in fiscal stimulus demonstrated the top leadership’s commitment to bolstering economic growth even as the 5% full-year GDP growth target is almost guaranteed, analysts said.
China A-shares had a mild rebound from 4-1/2-year lows. Blue-chip CSI 300 Index rose 0.5%, while the Shanghai Composite Index climbed 0.4%.
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