May 06, 2024 02:31 PM
FINANCE
Chinese Shares Rise in Catchup to Global Rally
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Pedestrians walk past the Shanghai Stock Exchange building in Shanghai. Photo: Bloomberg
(Bloomberg) — Chinese shares led gains in Asian equities as mainland markets played catchup after a holiday break. Most other Asian benchmarks also rose following softer-than-expected U.S. payroll data Friday that revived bets on Federal Reserve interest rate cuts.
The CSI 300 Index jumped as much as 1.8% after being closed from last Wednesday through Friday, while stocks in Hong Kong took a breather following a nine-day winning streak. Stocks also rose in Australia, Taiwan and Singapore.
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