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Xi’s Speech Could Finally Push Chinese Stocks to Five-Year High
Xi Jinping’s speech in Shenzhen comes at a crucial time for Chinese stocks, which are now within 1% of a five year high. The CSI 300 Index, which has been stuck in a narrow range for about three months, is close to surpassing July’s peak after a strong start to the new quarter. Rising turnover and an increase in margin debt also shows traders are turning more bullish. The index was down 0.5% as President Xi began his speech. Stocks had rallied in anticipation of his visit to the southern city, where most of the country’s technology giants are based. “We see more opportunities than risks in the market right ... (full story)