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ASIA STOCKS: Asian Equities Higher Led By China Stimulus Package

ASIA STOCKS
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  • Asian markets are higher again today driven by China's latest stimulus package aimed at boosting its economy and stock markets. The CSI 300 Index jumped over 3%, erasing its losses for 2024, while the Hang Seng China Enterprises Index rose another 3.4% following a 5.1% gain on Tuesday. Beijing’s comprehensive measures, including interest rate cuts, easing home-buying rules, and liquidity support for equities, have sparked investor optimism.
  • Elsewhere markets are mixed with Japanese & Australian equities little changed, Taiwan equities are higher after TSMC & Hon Hai traded up 1-4% while South Korea equities are lower after a drop in financials, which has offset gains in the tech space.
  • On the data front, China lowered it's 1yr MLF rate, while Australia's CPI came in at 2.7% down from 3.5% in July.

 

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  • Asian markets are higher again today driven by China's latest stimulus package aimed at boosting its economy and stock markets. The CSI 300 Index jumped over 3%, erasing its losses for 2024, while the Hang Seng China Enterprises Index rose another 3.4% following a 5.1% gain on Tuesday. Beijing’s comprehensive measures, including interest rate cuts, easing home-buying rules, and liquidity support for equities, have sparked investor optimism.
  • Elsewhere markets are mixed with Japanese & Australian equities little changed, Taiwan equities are higher after TSMC & Hon Hai traded up 1-4% while South Korea equities are lower after a drop in financials, which has offset gains in the tech space.
  • On the data front, China lowered it's 1yr MLF rate, while Australia's CPI came in at 2.7% down from 3.5% in July.