"The Hang Seng China Enterprises Index (HSCEI) jumped 1.4 percent by 12:04 p.m. inTokyo, while the Shanghai Composite Index climbed 1.7 percent. The MSCI Emerging Markets Index added 0.3 percent. Standard & Poor’s 500 Index futures added 0.2 percent after the Dow Jones Industrial Average climbed to a record May 9. Nickel jumped 3.9 percent, headed for its highest close since 2012, and brent added 0.3 percent. Wheat futures slumped 1.9 percent amid increasing inventories.
China’s government will relax foreign-investment limits in listed companies, increase quotas for capital flow, and develop commodities trading tools, according to a May 9 statement that didn’t include details. Chinese President Xi Jinping said Asia’s largest economy needs to adapt to a “new normal” on growth, according to a state news report. About 90 percent of voters in Donetsk backed a plan to break away from Ukraine, RIA Novosti reported. European Central Bank Vice President Vitor Constancio and other officials speak today in Vienna".
“The announcement is good for the market in the medium and long term and raises the government’s attention to the stock market to the state level,” said Wu Kan, a fund manager at Shanghai-based Dragon Life Insurance Co., which oversees about $3.3 billion. “This will boost the confidence of the market.”
Source: Blomberg
