China stocks set for best month in nearly a decade on stimulus cheer [Yahoo! Finance]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
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Source: Yahoo! Finance
Monday with those in the mainland headed for their best month in almost a decade, as Beijing rolled out further stimulus measures to arrest a slowdown in the broad economy. Benchmark indexes in mainland China began the week on a solid footing after clocking their best weekly performance in nearly 16 years on Friday, with the CSI300 blue-chip index last up more than 6.22%. The Shanghai Composite Index jumped 5.7%, while Hong Kong's Hang Seng Index rose 3.34%. Shares of property companies rose sharply in response to China's central bank late on Sunday saying that it would tell banks to lower mortgage rates for existing home loans before Oct. 31, as part of sweeping policies to support the country's beleaguered property market. Adding to efforts to reverse the property downturn, Guangzhou city announced the same day the lifting of all restrictions on home purchases, while Shanghai and Shenzhen eased curbs on buying. "The market is still surprised by China's policy support and m
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