Chinese shares gain on trade data, liquidity injection
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E-mail Xinhua, April 13, 2017
Chinese shares gained on Thursday as better-than-expected trade data and a central bank liquidity injection boosted market sentiment.
The benchmark Shanghai Composite Index closed up 0.07 percent at 3,275.96 points, and the smaller Shenzhen Component Index closed 0.63 percent higher at 10,654.08 points.
The ChiNext Index, China's NASDAQ-style board, gained 0.68 percent to close at 1,910.48 points.
A number of shares related to the Xiongan New Area suspended trading on Thursday, after days of consecutive gains pushed their stock prices significantly higher.
Sectors including environmental protection, real estate and cement led the gains, while shares of financial service firms in Hebei Province also jumped in afternoon trading.
The gain came after a central bank liquidity injection Thursday, which included 83.9 billion yuan (12.2 billion U.S. dollars) through pledged supplementary lending and 110 billion yuan through reverse repos.
It was the first time that the central bank pumped money into the financial system through reverse repos since a 13-day halt.
Market sentiment was also boosted by better-than-expected trade data published Thursday. Exports in yuan-denominated terms rose 22.3 percent year on year in March, beating market estimates of 8 percent, while imports increased 26.3 percent, also surpassing expectation, Customs data showed.
"The unexpected jump in imports was in line with recovery of the domestic economy, while rising overseas demand boosted exports," said Deng Haiqing, chief economist with JZ Securities.
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