China stocks were being undergirded Monday by a vow from Communist Party leaders to take new steps to avert an economic 'hard landing.'
BEIJING — Asian stock markets rose Monday after Wall Street hit a new high and China promised aid to shore up economic growth.
Wall Street’s benchmark S&P 500 index SPX, +0.95% closed Friday up 3.8% for the week in a rally led by tech companies. The Shanghai Composite Index SHCOMP, +0.72% rose 0.8% to 3,695.30 and the Hang Seng in Hong Kong HSI, +0.59% gained 0.5% to 24,201.43. Government data showed U.S. consumer inflation rose to a 39-year high of 6.8% in November. But the impact on financial markets was limited because it was in line with expectations.
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