18th November 2013
Asian stocks have been mixed today (November 18th), with stocks in Hong Kong and the Chinese mainland advancing after the country unveiled details of its extensive economic reforms.
Late on Friday, Beijing published an outline of its plans to open up the financial sector to greater foreign investment and overhaul initial public offerings, specifically for state-owned companies.
This followed the conclusion of the meeting of top Chinese Communist Party leaders earlier in the week, which left investors disappointed by the lack of detail released.
However, sentiment has been boosted following the subsequent announcement, which has sent Hong Kong's Hang Seng to its highest level in nine months after adding 2.7 per cent.
Banking stocks made the most significant gains, but manufacturers of products for children also advanced strongly after leaders pledged to ease China's one-child policy.
In Tokyo, the Nikkei 225 was broadly unchanged, with traders continuing to monitor moves in forex markets. The dollar weakened against the yen and Japanese stocks closed 0.01 per cent lower at 15,164.30 points.
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