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China: Stocks rise at market open after top stock regulator removed

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[SHANGHAI] China major stock indexes opened up on Monday, as investors welcomed news over the weekend that the head securities regulator is being replaced.

Xiao Gang was removed from his post as chairman of the China Securities Regulatory Commission (CSRC) and replaced by Liu Shiyu, chairman of the Agricultural Bank of China Ltd (AgBank).

The CSI300 index rose 1.1 per cent to 3,083.93 points at 1:28 GMT, while the Shanghai Composite Index gained 1.0 per cent to 2,888.60 points.

China CSI300 stock index futures for March fell 0.1 per cent, to 2,980.8, down 103.13 points from the current value of the underlying index.

The Hang Seng index in Hong Kong was up 0.5 per cent, to 19,374.24 points.

REUTERS

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