Chinese shares close broadly higher on stimulus optimism
Shanghai Composite up 0.79% at 3,113 points (Il Sole 24 Ore Radiocor) - Shanghai , 29 Apr - Chinese shares closed broadly higher, extending a recent rebound amid strong Asian markets as optimism over corporate earnings and a series of policy support measures to boost investor confidence helped lift sentiment.
In mainland stock market dealings property stocks led the gains, extending Friday's rally, after the Beijing announced measures to further loosen home purchase restrictions across major cities.
The CSI 300 Real Estate index jumped 7.26%.
Investors awaited key Chinese purchasing managers index data for April due on Wednesday for cues on an economic recovery in the country.
Fresh company earnings from China's biggest state-owned banks and oil and gas firms are also on tap this week.
The Shanghai Composite index closed up 0.79% at 3,113 points, while the Shenzhen CSI 300 closed up 1.11% at 3,623 points.
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(RADIOCOR) 29-04-24 11:03:09 (0219) 5 NNNN