China Stock Market Closes Higher on September 16

China stock market led gains across Asia on September 16, with the Shanghai Composite closing up 4.89% at 3,152.26.

The index recovered much of the ground it lost on September 15 when the mainland benchmark index lost 3.5%.

In Hong Kong, the benchmark Hang Seng index also ended the day higher, up 2.38% at 21,966.66.

Investors shrugged off news that shares in China’s largest brokerage, Citic Securities, had fallen as much as 4%.

Photo Reuters/China Daily

The share fall came after it was announced three of the company’s executives, including its president, were under police investigation for suspected insider trading and “leaking” inside information.

Elsewhere, investors continued to remain cautious ahead of a decision by the Federal Reserve on whether or not it will raise US interest rates for the first time in nearly a decade.

Japan’s benchmark Nikkei 225 index ended up 0.8% at 18,171.60.

In Australia, the S&P/ASX 200 index closed 1.6% higher at 5,098.90, also recovering from yesterday’s losses.

South Korean shares were up despite tensions in the region, the benchmark Kospi index finished 2% higher at 1,975.45.