Chinese stocks have resumed trade with a spectacular gain

Kevin Frayer/Getty Images

Chinese stocks have resumed trade with a bang following the “Golden Week” holiday, with all major indices posting gains of more than 2.5%.

As at 12.45pm AEDT the benchmark Shanghai Composite index is currently trading at 3135.01, an increase of 2.69%, while the CSI 300 and 500 indices are up 3.09% and 2.65% respectively.

Earlier in the session China’s PBOC fixed the USD/CNY exchange rate at 6.3505, stronger than previous 6.3613 level set on September 30.

Despite the strength in both stocks and the renminbi, risk assets across the region have trimmed their early session gains, something that points to the likelihood of both being already priced in by markets. Buy the rumour, sell the fact, if you will.

The full regional scoreboard is found below.

Stocks

  • ASX 200 5223.50 , 25.63 , 0.49%
  • Nikkei 225 18272.75 , -50.23 , -0.27%
  • Shanghai Composite 3135.01 , 82.23 , 2.69%
  • Hang Seng 22588.69 , 72.93 , 0.32%
  • KOSPI 2014.31 , 8.47 , 0.42%
  • Straits Times 2970.18 , 8.37 , 0.28%
  • S&P 500 Futures 1982.00 , -5.25 , -0.26%

Forex

  • USD/JPY 119.94 , -0.06 , -0.05%
  • USD/CNY 6.3499 , -0.0060 , -0.09%
  • AUD/USD 0.7195 , -0.0009 , -0.12%
  • NZD/USD 0.6613 , 0.0005 , 0.08%
  • AUD/JPY 86.3 , -0.15 , -0.17%
  • EUR/USD 1.1250 , 0.0015 , 0.13%
  • GBP/USD 1.5308 , -0.0006 , -0.04%
  • USD INDEX 95.513 , 0.0160 , 0.02%

Commodities

  • Gold $1,144.15 , -$0.85 , -0.07%
  • Silver $15.67 , -$0.40 , -2.49%
  • WTI Futures $48.14 , $0.33 , 0.69%
  • Copper Futures ¥39,420 , ¥1,110 2.90%
  • Iron Ore Futures ¥369.00 , ¥2.50 , 0.68%

10-Year Bond Yields

  • Australia 2.658%
  • New Zealand 3.455%
  • Japan 0.318%
  • Germany 0.594%
  • UK 1.827%
  • US 2.058%

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