(Bloomberg) — China should issue 2 trillion yuan ($281 billion) of special government bonds to help create a market stabilization fund, according to a top government-linked think tank. Most Read from Bloomberg The fund would promote market stability through the buying and selling of blue-chip stocks and exchange-traded funds, Chinese media outlet the Paper reported,…
By Samuel Shen and Vidya Ranganathan SHANGHAI/SINGAPORE (Reuters) -China cut benchmark lending rates as anticipated at the monthly fixing on Monday, following reductions to other policy rates last month as part of a package of stimulus measures to revive the economy. The one-year loan prime rate (LPR) was lowered by 25 basis points to 3.10%…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets. The trading week in Asia opens against an increasingly bullish global backdrop fueled by continued strength in U.S. stocks, but with local sentiment more circumspect due to the uncertainty surrounding China’s deep-rooted economic problems. The People’s Bank of China is expected…
By Samuel Shen, Ankur Banerjee and Tom Westbrook SHANGHAI/SINGAPORE (Reuters) – China’s highly anticipated announcement of financial stimulus plans on Saturday was big on intent but low on the measurable details that investors need to ratify their recent return to the world’s second-biggest stock market. Saturday’s news conference by Finance Minister Lan Foan reiterated Beijing’s…
By Ankur Banerjee SINGAPORE (Reuters) – Asian stocks got a lift on Thursday from Chinese stocks as China’s central bank kicked off its 500 billion yuan facility to spur capital markets, while the dollar lingered near a two-month high ahead of U.S. inflation data later in the day. The People’s Bank of China (PBOC) said…
US-listed China tech stocks Alibaba (BABA), JD.com (JD), and PDD (PDD) are under pressure as investors show some concerns over China’s stimulus measures. While the People’s Bank of China (PBoC) has recently announced various stimulus initiatives, the country’s economic planning agency announced that it is projecting spending of about $28 billion next year. Market Domination…
(Bloomberg) — Metals traders arriving in London for LME Week were in for a surprise as they caught up with friends and customers from China. Most Read from Bloomberg For the last couple of years, the biggest consumer and producer has been a buzzkill for metals bulls. Now suddenly Chinese representatives were among the most…
Investors are digesting the latest commentary from Fed Chair Jerome Powell as the Fed weights its next interest rate cut. The autos industry is under pressure after Stellantis (STLA) slashed its guidance, citing increased competition from China. The move sent European carmaker stocks sinking in Monday’s trading session. Meanwhile, China stocks surged in their biggest…
BEIJING (Reuters) -China’s central bank said on Sunday it would tell banks to lower mortgage rates for existing home loans before Oct. 31, as part of sweeping policies to support the country’s beleaguered property market as the economy slows. Commercial banks should, in batches, reduce interest rates on existing mortgages to no less than 30…
(Bloomberg) — China’s policymakers uncorked sweeping stimulus measures aimed at bolstering demand and keeping the world’s second-largest economy from slipping into a deflationary spiral. Most Read from Bloomberg The People’s Bank of China slashed interest rates on one-year loans and eased rules on purchases of second homes. The government also issued cash handouts and floated…