BEIJING — Chinese shares rose to the highest level in more than five years on March 16 after Premier Li Keqiang said the country has a string of policy tools at the government’s disposal to bolster economic growth.
The benchmark Shanghai Composite Index opened higher in the morning and rallied 2.26 percent to finish at a 67-month high of 3,449.30 points. The Shenzhen Component Index went up 2.60 percent to close at 12,017.77 points.
More than 100 shares on the two bourses soared by the daily limit of 10 percent, while only 19 shares declined.
Premier Li said at a press conference after the conclusion of China’s annual parliamentary session on March 15 that China still has a string of policy tools at the government’s disposal to bolster economic growth despite a slight economic slowdown.