Mainland Stocks Rise Amid Stimulus Hopes

Mainland stocks ended higher on Friday, with property developers leading the gains on expectations of more economic stimulus after data showed factory activity slumped at the fastest pace in two years in March.

The blue-chip CSI300 Index rose 1.3 percent to 4,276.16, while the Shanghai Composite Index gained 0.9 percent to 3,282.72.

For the week, the CSI300 Index added 2.4 percent, the biggest weekly gain so far this year.

The CSI300 Index tumbled 14.5 percent overall in the first three months of the year, marking its worst quarter since 2015.

To some extent, negative headlines have been priced in during Q1, said Yang Delong, chief economist at Shenzhen-based First Seafront Fund Management Co, adding that he expected a potential rebound in the second quarter.

Beijing has vowed to roll out policies to stabilise the economy, while analysts say the possibility of the central bank cutting reserve requirement ratios in April has risen as economic headwinds intensify.

Real estate developers surged 4.6 percent for the week, financials firms gained 1.9 percent, and consumer staples added 1.6 percent. (Reuters)