Chinarelated stocks rise on fresh measures
Tech leads gains following positive Wall Street close
UK markets closed for public holiday
STOXX 600 up 0.6

Aug 28 Reuters European shares advanced on Monday, with technology stocks leading gains following an upbeat close on Wall Street and a rise in Chinaexposed industrials after Beijing announced measures to aid its ailing stock market.

The panEuropean STOXX 600 added 0.6 after posting its first weekly gain in four.

Technology stocks advanced 1.1, their first climb in three sessions, tracking an overnight rally on Wall Street after U.S. Federal Reserve Chair Jerome Powell39;s remarks at the Jackson Hole symposium on Friday.

Jackson Hole has not altered our stance with regards to Fed policy, the data up till now warrants a pause in the next meeting and the market is growing comfortable with that narrative, said Georgios Leontaris, chief investment officer for Switzerland and EMEA, HSBC Global Private Banking and Wealth.

Chinalinked sectors such as automakers and industrials added 0.4 and 0.7, respectively, after the country39;s finance ministry said on Sunday it was reducing the 0.1 duty on stock trades to invigorate the capital market and boost investor confidence.

Overnight, we had the halving of the stamping duty which is clearly a positive intervention but at the same time, it does very little to lift the real economy, added HSBC39;s Leontaris.

Chinaexposed luxury heavyweights LVMH, Kering and Hermes added…