CHINESE equities rose sharply yesterday as plans for a new stock exchange in Beijing and a slew of market-friendly talks from government officials boosted sentiment. The blue-chip CSI300 index rose 1.87 percent to 4,933.73, while the Shanghai Composite Index gained 1.12 percent to 3,621.86 points. An index tracking major companies listed on Beijing’s new third board surged 13 percent after China announced details over the weekend for the planned stock exchange in Beijing, which will be based on the new third board. Shanghai’s tech-focused STAR Market and Shenzhen’s startup board ChiNext jumped over 2 percent. “We believe the new stock exchange in Beijing offers a reassuring message that China will continue to support technologically innovative small and medium-size enterprises (SMEs) to tap capital markets for financing,” Citi said in a note yesterday. In addition, China’s central bank and financial regulators said over the weekend they would increase the high-level opening of the financial sector by optimizing institutional arrangements and improving regulations. (SD-Agencies) | 