China’s markets are set to rally as the Chinese Premier Li Keqiang arrives in Washington to begin his two-day visit to the U.S. as the world’s second-largest economy begins to recover from its worst crisis since the Great Recession.
The Shanghai Composite rose 2.8% on Wednesday to close at 1,932.98, marking a new all-time high for the benchmark, which is up 5.9% over the past week.
The S&P 500 also rose 1.3% to 2,957.08, while the Nasdaq composite index gained 2.5% to 6,928.08.
The markets were boosted by China’s latest move to tighten capital controls and other measures, as well as strong global economic data and continued strong U.K. support.
China’s stock market is expected to open higher than expected after Li’s visit to Washington, which will be his first visit to a U.N. General Assembly since 2014.
“The U.C.S.’s economy is showing signs of recovery.
I think China’s economy is also showing signs that it is showing real signs of improvement,” said Scott Kiley, a portfolio manager at U.P. Securities, who follows China’s stock markets.
“The Chinese are also benefiting from the economic expansion and we think the Chinese economy is going to be in for a much better run in the future.”
Liang Yang, chief investment strategist at Fudan University, said China’s market will also benefit from China’s strong yuan, which helps drive foreign exchange trades in the region.
“There is a lot of pressure on the Chinese market because of the currency issues.
The Chinese stock market has done quite well in recent weeks and it is going up in value,” Yang said.
“This is also because of a very strong U and U.
It is just a very bullish environment for Chinese stock markets.”
The Dow Jones Industrial Average rose 1,022.57 points, or 0.6%, to 23,938.75.
The Nasdaq Composite added 1,085.23 points, up 1.9%.
China’s benchmark CSI 300 index rose 2,764.84 points, a gain of 1.7%, to 2.062.55.
The Shanghai Composite added 2,087.65 points, an increase of 1%.
The Shanghai index has been the best performing in the S&s 600 since January 2013.
China’s benchmark index has gained more than 15% this year.
The Dow and S&ams have gained more then 11% and 4% this month, respectively.
The Russell 2000 index has fallen by more than 1% over that time.
China has also posted its best economic growth in nearly five years.
It has been growing at a 3% annual pace, compared to an annual average of 1% for the U