China’s stocks rose, driving the market to its biggest weekly gain since July after Beijing prodded banks to cut down payment and mortgage rates to revive consumption, while a private report showed manufacturing expanded. Trading in Hong Kong was halted because of a typhoon.
The CSI 300 Index advanced 0.7 per cent to 3,791.25 on Friday, culminating in a 2.2 per cent gain for the week. The Shanghai Composite Index added 0.4 per cent and Shenzhen Composite Index rose 0.3 per cent.
Hong Kong’s financial markets were shut after the Observatory issued storm warning No. 8 as Typhoon Saola approached within 100km of the city and kept the alert in force throughout Friday.
Fidelity China Special Situations PLC (LON:FCSS), the UK’s largest China Investment Trust, capitalises on Fidelity’s extensive, locally-based analyst team to find attractive opportunities in a market too big to ignore.