China National People's Congress leaves markets divided

SHANGHAI/HONG KONG -- Market reaction has been split on the National People's Congress that ended Monday, with the Shanghai Composite Index rising 1% during the meeting on the announcement of economic support measures even as Hong Kong's mostly foreigner-traded Hang Seng Index fell slightly.

Many in the mainland stock market are praising the economic support stance laid out by Premier Li Qiang in the annual government work report. "The fiscal, monetary and credit policies are all accommodative, which will have the effect of pushing up the currently undervalued stock market," UBS strategist Meng Lei said.