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China: Stocks rise for 6th straight day as poor data fans policy hopes

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China stocks recorded their sixth straight session of gains in thin trading on Monday, as expectations of further government stimulus were reinforced by weak economic data ahead of the Lunar New Year holiday.

[SHANGHAI] China stocks recorded their sixth straight session of gains in thin trading on Monday, as expectations of further government stimulus were reinforced by weak economic data ahead of the Lunar New Year holiday.

Data published late on Friday showed that China's January growth in broad money slumped to a record low of 10.8 per cent, strengthening hopes that further loosening in monetary policies is imminent.

The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.9 per cent, to 3,499.48, while the Shanghai Composite Index gained 0.6 per cent, to 3,222.36 points.

Total volume of A shares traded in Shanghai was 22.3 billion shares, while Shenzhen volume was 16.6 billion shares.

REUTERS

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