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June 9 (Bloomberg) -- China’s stocks rose the most in more than two weeks after Reuters reported a surge in the nation’s exports and higher-than-estimated new loans in May, signaling Europe’s debt crisis hasn’t derailed the economy.
Banks and property developers rallied the most in the benchmark index as new loans exceeded economists’ estimates by 5 percent. Bond yields increased after Reuters reported exports grew about 50 percent last month from a year earlier, while consumer prices gained 3.1 percent.
“If we assume that these numbers are pretty close to what we’re going to get, then it’s fairly good news for China’s recovery and should dispel some of the concerns about a very sharp slowdown in the Chinese economy,” Brian Jackson, a Hong Kong-based strategist at Royal Bank of Canada, said in a telephone interview.
http://www.bloomberg.com/apps/news?p..._JASxcU4&pos=2
Banks and property developers rallied the most in the benchmark index as new loans exceeded economists’ estimates by 5 percent. Bond yields increased after Reuters reported exports grew about 50 percent last month from a year earlier, while consumer prices gained 3.1 percent.
“If we assume that these numbers are pretty close to what we’re going to get, then it’s fairly good news for China’s recovery and should dispel some of the concerns about a very sharp slowdown in the Chinese economy,” Brian Jackson, a Hong Kong-based strategist at Royal Bank of Canada, said in a telephone interview.
http://www.bloomberg.com/apps/news?p..._JASxcU4&pos=2
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