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China stocks rocket on PBOC’s blunder, SSEC +4%

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 4, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Mumbai) - Stocks on the Chinese bourses soared on Wednesday, after the Chinese central bank mistakenly published five-month old news on the Shenzhen-Hong Kong tie-up, triggering renewed optimism amid Chinese investors.

    Markets had expected a delay in the link between the exchanges owing to the recent $5 trillion rout in China's stock market.

    However, the PBOC soon clarified via a text message that the comments were taken from a speech on May 27, while Hong Kong's bourse said the program is still subject to regulatory approval.

    Earlier on the day, the PBOC unintentionally published on its website, an old article with Governor Zhou Xiaochuan comments on the Shenzhen and Hong Kong exchanges link, without indicating that the statements were old.

    In response to the PBOC comments flagged unknowingly, the mainland China’s benchmark index, Shanghai Composite (SSEC) rallied over 4%, China A50 index soared +4.30% while Hong Kong’s Hang Seng jumped +2.40%.
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