SHANGHAI Oct 10 China stocks reopened on an
upbeat note on Monday after a week-long holiday, with the main
indexes rising the most in two months, but gains were capped by
a sell-off in property shares on curbs imposed in more cities to
cool surging home prices.
Helping lift main indexes were advances in buoyant global
markets while China took a long break for National Day.
The second U.S. presidential debate drew limited attention
from Chinese investors, who are more focused on the impact of
fresh property measures introduced during the "Golden Week"
holiday by more than a dozen Chinese cities.
China's blue-chip CSI300 index rose 1.2 percent to
3,293.87 points, while the Shanghai Composite Index
gained 1.4 percent to 3,048.14 points.
During China's holiday, Asian shares flirted
with one-month highs, while Wall Street stocks were also
Investors also responded positively on Monday to a private
survey result showing China's services sector created jobs at
the fastest pace in seven months in September as new business
But the fresh property restrictions knocked the property
sector down 1.8 percent on Monday.
Gold stocks were also down, as the price of the precious
metal slumped 4.5 percent last week, its biggest drop
since Nov. 6, 2015.
But most other sectors rose, with resources shares
rising sharply. Baoshan Iron & Steel and
Wuhan Iron And Steel Co Ltd shot up 10 percent, the
maximum allowed, on their merger plans.
(Reporting by Samuel Shen and John Ruwitch; Editing by Richard