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China stocks surge to seven year highs

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China stocks have risen for a fourth day, with the country’s benchmark gauge at its highest level in seven years on the back of new government measures to boost the economy. 

On Monday, China's central bank lowered minimum down-payment levels on second homes nationwide, scrapping a key policy originally aimed at controlling housing prices.

But property stocks rallied even before the central bank’s meeting in the afternoon to reveal the measures, with China's property sub-index surging more than 7 percent on Monday in its biggest gain in over six years, despite the country’s weakening economic growth. 

The country's long-maligned stock market has been buffeted by constant leaks of official policy announcements.

In December, the country’s securities regulator moved to investigated possible stock-price manipulation. In January, China stocks surged 18 minutes ahead of the country’s official GDP data release.

The benchmark Hang Seng Index was up 1.04 per cent, adding 258.08 points to 25,113.20 at the start on Tuesday.

In mainland China the benchmark Shanghai Composite Index rose 0.96 per cent, or 36.42 points, to 3,822.99.

The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.49 per cent, or 9.47 points, to 1,957.53.

Data due this week includes an official gauge of China's factory sector in March. Activity probably contracted for a third straight month, a Reuters poll showed, reinforcing expectations that Beijing will have to further step up policy easing to support economic growth.

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China stocks rise for a fourth day on the back of new government measures to boost the economy.

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