Chinese Stocks, Yuan Primed for Gains on Return From Holidays

-- Chinese markets look poised for a positive open when traders return from a holiday, with Beijing’s supportive policy stance adding impetus to a budding bullish momentum.‘Civil War’ Is a Gift to Trump’s Opponents

“The important meeting held before the holidays clarified the goal of continuing to deepen reforms and expand opening up, which will help drive the onshore equity market higher in the near term,” said Shen Meng, director at Chanson & Co. “The travel and consumption trend during the holidays also raise expectations for the consumption recovery.

“We need the May holiday consumption data to meet expectations to sustain the rally,” said Zhikai Chen, head of Asian and global emerging market equities at BNP Paribas Asset Management Asia Ltd. “Otherwise, it will lead to another round of questions on whether consumers are pulling back and if they are getting more cautious.”

The Chinese top leaders’ meeting “raised hopes that they will come up with more comprehensive long-term reforms and policies to address” some of the economy’s structural challenges, said Ken Cheung, chief Asian FX strategist at Mizuho Bank. The yuan’s rally may extend in the short term alongside the dollar’s retreat and as foreign investors are less bearish on Chinese assets, he said.Canadian Natural Resources Has Announced A Dividend Of CA$1.

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