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Chinese Shares Rise on Financial Support Measures Ahead of Trade, Inflation Data

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Chinese stocks opened higher Tuesday, buoyed by recent state-backed financial support measures and ahead of August inflation and trade data.

The Shanghai Composite Index, the main gauge of Chinese stocks, climbed 0.3% to 3,935.55. The Shenzhen Component Index ticked up 0.1% to 13,782.86.

The Ministry of Finance plans to issue 300 billion yuan in special treasury bonds to recapitalize state-owned financial firms, while eight major state banks announced a combined 360 billion-yuan capital boost.

China is set to publish its trade data late Tuesday morning, with analysts expecting the August trade surplus to have widened to $119.1 billion from $112.5 billion the previous month, according to Trading Economics.

On Thursday, China will post inflation and producer data, with analysts expecting headline inflation to have accelerated to 0.8% in August from 0.5% in July.

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