ecns [expanded by feedex.net]
ecns
Chinese shares advance on debt-reduction plan
http://www.ecns.cn/business/2016/10-11/229780.shtml
Oct 11th 2016, 20:37
Chinese stocks closed higher on Tuesday boosted by the government's debt-reduction plan that will accelerate the consolidation of state-owned companies.
The benchmark Shanghai Composite Index finished up 0.56 percent at 3,065.25 points. The smaller Shenzhen Component Index closed 0.38 percent higher at 10,782.31 points.
China's State Council on Monday released guidelines on the long-discussed debt-for-equity swaps, pledging that the scheme will be conducted in an "orderly" fashion as the country steps up efforts to tackle high corporate debt.
Companies with "temporary difficulties" but "long-term potential" will be able to exchange their debt for stocks, according to the guidelines.Poorly performing "zombie enterprises" and those with bad credit records will be forbidden from participating.
The guidelines will boost investor bets in mergers and restructuring among listed state-owned companies, according to China Merchants Securities.
China's major listed shipbuilders, including CSSC Offshore & Marine Engineering Group, China Shipbuilding, and China CSSC Holdings all surged on expectations that their state-owned parents will merge.
China United Network Communications jumped 10 percent as the company released news over the weekend that its parent company is studying plans for "mixed ownership" reforms.
The ChiNext Index, China's NASDAQ-style enterprises, gained 0.11 percent to close at 2,210.86 points.
¡¡¡¡
Capital flows moving from real estateInvestment easier after QFII curbs scrappedShanghai stocks up on rising coal pricesStocks end down ahead of long holiday
Premier Li starts Macao visit, vows support for local developmentYuan exchange rate hits 6-year low amid volatility of other currenciesChina moves to curb property speculationGirl rescued at E China's collapsed houseDeath toll from E. China residential building collapse rises to 22
Xi stresses CPC leadership of state-owned enterprises China to settle 100 mln migrants in cities by 2020 China, Portuguese-speaking countries discuss cooperation at ministerial conference Samsung China recalls all Galaxy Note 7 in China China, Russia to hold second anti-missile drill
You are receiving this email because you subscribed to this feed at https://blogtrottr.com
If you no longer wish to receive these emails, you can unsubscribe here:
https://blogtrottr.com/unsubscribe/qhG/Zc7fXt
No comments:
Post a Comment