China stocks hit 1-month high as debt-reduction plan raises reform hopes

Oct 11 China stocks advanced to a one-month high on Tuesday as Beijing's plan to cut massive corporate debt triggered bets on mergers and restructuring among listed state-owned companies.
The blue-chip CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.4 percent to 3,306.56 points, while the Shanghai Composite Index gained 0.6 percent to 3,065.25.
Investors welcomed guideliness issued by China's cabinet on Monday to reduce rising corporate debt, which will include encouraging mergers and acquisitions, bankruptcies, debt-to-equity swaps and debt securitisation.... read more