22nd September 2015
Chinese stocks rose for a third day on Tuesday as brokerages jumped on proposals for a London-Shanghai exchange link.
The Shanghai Composite added 0.9 per cent to extend its three-day rally to three per cent, but the benchmark index remains 40 per cent down from its June peak.
Brokerages Shanxi Securities and Western Securities surged ten per cent after UK chancellor George Osborne Britain and China are looking at how to link their stock markets.
Gains in China came after a strong session on Wall Street as the Dow Jones and S&P 500 both rose.
However, biotech shares tumbled nearly five per cent as policymakers renew their focus on large price hikes on certain drugs.
Presidential hopeful Hillary Clinton said she wants to take on pharma giants “price gouging” after the New York Times reported how a company increased the price of a 62-year-old drug from $13.50 to $750 overnight.
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