SHANGHAI :
Chinese Mainland Stocks Open Higher on Unexpectedly Good Social Financing Data
Liao Shumin
DATE:  Sep 14 2020
/ SOURCE:  Yicai
Chinese Mainland Stocks Open Higher on Unexpectedly Good Social Financing Data Chinese Mainland Stocks Open Higher on Unexpectedly Good Social Financing Data

(Yicai Global) Sep.14 -- Stock markets on China's mainland opened higher today as Chinese social financing data released on Sept. 11 surpassed expectations.

The Shanghai Composite Index opened 0.48 percent lower at 3,275.92, while the Nasdaq-like Star Market Board 50 Index, or Star 50, was up 1.17 percent to 1,334.98.

The Shenzhen Component Index started the day at 13,024.56, up 0.48 percent. The ChiNext Price Index, which tracks growth enterprises listed in Shenzhen, grew 1.24 percent to 2,568.01.

Total social financing rose CNY3.58 trillion (USD523.7 billion), 63.5 percent more than at the same time last year, much higher than the CNY2.49 trillion predicted.

Total social financing, also known as ’aggregate financing to the real economy,’ is the cumulative volume of funding China's domestic financial system supplies to the private sector of the real economy within a set period, and .comprises forms of financing that co-exist with the regular bank lending system, such as initial public offerings, trust company loans and bond issues.

Editor: Ben Armour

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Keywords:   Chinese Stocks Market