China shares leap 4 pct on authorities' pledges of support, tax changes [Reuters (UK)]
BANK OF CHINA UNSP/ADR (BACHY)
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Source: Reuters
China shares leap 4 pct on authorities' pledges of support, tax changes | Reuters 4 Min Read * SSEC +4.1 pct, CSI300 +4.3 pct * Strongest day for blue-chips shares since Nov. 2015 * Securities sector sub-index surges 10 pct (Updates to close) SHANGHAI, Oct 22 (Reuters) - China’s benchark blue-chip index surged over 4 percent on Monday, posting its best daily performance in almost three years, as investors piled into the battered market after coordinated statements of support by senior regulators. The market was also encouraged by news that China is preparing to overhaul its income tax law for individuals, with Shanghai trading turnover rising to a three-month high. The blue-chip CSI300 index rose 4.3 percent, to 3,270.27, its best day since November 2015. The Shanghai Composite Index jumped 4.1 percent, its biggest one-day gain since March 2016. Shenzhen’s start-up board ChiNext surged 5.2 percent. The market extended a rally that started on Friday, when Chinese Vice Premier Liu He, w
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