off-the-wire

China stocks open up sharply as holiday rebound lifts sentiment

Kitco Media
By Reuters
Published:
Updated:
Reuters
SHANGHAI, Jan 30 (Reuters) - China stocks opened higher on Monday after week-long Lunar New Year holidays as strong consumption and a rebound in travel during the break boosted investor sentiment.


"Thanks to the rapid transition to herd immunity and the release of pent-up demand, there has been a notable recovery in in-person services consumption during the week-long holiday," Nomura said in a note.


CSI 300 Index jumped more than 2%, and the Shanghai Composite Index gained 1.4%.


Meanwhile, the Hang Seng Index and the Hang Seng China Enterprises Index lost 0.5% and 0.7%, respectively, after two sessions of gains while Chinese markets were closed.
(Reporting by Shanghai Newsroom; Editing by Tom Hogue)

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