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Chinese stocks closed up on Tuesday as domestic markets continued to rally after the central bank lowered a key short-term money rate, seen as a sign of continued easing.
Foreign investment flowing from Hong Kong into Shanghai through the mutual market access pilot programme was tepid at 2.85 billion yuan ($464.12 million), slightly over one-fifth of the 13 billion yuan daily quota, after a strong rise on Monday, when offshore investors bought nearly 7 billion yuan worth of Chinese shares.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 1.4 per cent, to 2,685.56, its highest level since Feb 2013, while the Shanghai Composite Index also gained 1.4 per cent, to 2,567.60 points, its highest level since 2011.
Among the most active stocks in Shanghai were Zijin Mining , up 5.62 per cent at 2.82 yuan; Baotou Steel , up 0.65 per cent at 3.103.10 yuan; and Founder Securities, up 3.32 per cent at 8.40 yuan.
In Shenzhen, BOE Technology, up 1.1 per cent at 2.66 yuan; TCL Corp, up 0.9 per cent at 3.28 yuan; and GF Securities, up 5.9 per cent at 15.69 yuan, were among the most actively traded.
Major domestic indexes continued to see strong trading volumes. Total volume of A shares traded in Shanghai was 31.3 billion shares, while Shenzhen volume was 19.0 billion shares.
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