SHANGHAI :
Chinese Stocks Open Higher on Greater Bay Area Master Plan
Liao Shumin
DATE:  Feb 19 2019
/ SOURCE:  yicai

(Yicai Global) Feb. 19 -- China's mainland stock markets advanced this morning, led by shares related to the Guangdong-Hong Kong-Macao Greater Bay Area as the government released a new plan to develop the southeastern Chinese economic powerhouse.

Major mainland bourse benchmarks extended gains from yesterday. The Shanghai Composite Index was up 0.19 percent to 2,759.50 points at the opening bell. The Shenzhen Component Index climbed to 0.40 percent to 8,480.76 points. The ChiNext Price Index, including Shenzhen's growth companies, moved up 0.38 percent to 1,419.04 points.

The central government yesterday revealed a plan to nurture an environment suitable for innovation in order to bring China's Greater Bay Area on par with those of New York and San Fransisco. The move has spurred stock gains of local companies, including insurers, property developers, logistics firms and harbor operators.

Editor: Emmi Laine 

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