China Market Lookahead: Rally by Stocks Set to Continue
China stocks are set to continue to rise after infrastructure stocks propelled the benchmark Shanghai Composite higher by 1.19 percent to end 2361.37 on Monday.
Market Factors
Total assets and debts of China's banks at the end of April both fell from the previous month.
The small coastal city of Yiwu will trial financial reforms that include the launch of an international trade bank, according to Hexun website.
Stocks to watch: AUTO STOCKS
China is set to restart subsidies for farmers' car purchases and eco-friendly cars, according to a Reuters report.
CHINA NATIONAL CHEMICAL ENGINEERING
CNCE has won a near US$3 billion construction contract for the National House Scheme In Dubai.
PING AN INSURANCE
China's No.2 life insurer says it has been approved by the insurance regulators to issue 26billion yuan of convertible bonds.
GUANGZHOU BAIYUNSHAN PHARMACEUTICALS
The drugmaker released test results of its capsules: 1 out of 57 samples was found to have excessive chromium levels by the food and drug supervision bureau.
It has recalled the products in the sample batch and is waiting for results of a re-test.