“The press conference on boosting consumption fanned expectations on policy support,” said Shen Meng, a director at Beijing-based investment bank Chanson & Co. “But if it falls short of providing details on increasing income, such optimism may weaken to some extent.”
China’s benchmark stock index rallied the most in two months on Friday, with consumer shares leading gains on expectations of more policy support for the sector.
The CSI 300 Index jumped as much as 2.6% to its highest level this year. Officials from the finance ministry, commerce ministry, the central bank and other government bodies plan to hold a press conference Monday on measures to boost consumption. A gauge of Chinese stocks listed in Hong Kong climbed more than 3% intraday.
