China’s all-out stimulus package will fail to meaningfully reverse ongoing chaos in the nation’s property market, JPMorgan said in new research. Though Beijing committed on Tuesday to reduce mortgage rates and downpayment rules, the bank said these efforts will not bolster housing consumption as hoped. “These measures are unlikely a game changer,” strategists led by…
Hedge funds rushed to buy Chinese equities in a bet that the country’s new stimulus program can boost growth in the world’s second-largest economy. Chinese equities on Tuesday saw the largest daily net buying since March 2021 — the second largest amount in the past 10 years, according to Goldman Sachs Group Inc.’s prime brokerage…
China pulled out an aggressive stimulus package on Tuesday. At a rare press briefing about China’s economy, People’s Bank of China governor Pan Gongsheng unveiled a swathe of measures, including slashing interest rates and reducing the amount of cash banks need to hold in their reserves. The measures were significant because Beijing has been holding…
A Japanese diplomat has urged Hong Kong to make the “correct decision” and lift the city’s 13-month-long import ban on aquatic products from 10 prefectures as soon as possible, after Beijing signalled its intention to gradually roll back its own curbs. Kenichi Okada, the country’s consul general in Hong Kong, made the appeal on Wednesday,…
A brief China-led rally has faded, leaving shares in Europe and Asia mixed on Wednesday after a strong start that had extended overnight gains on Wall Street. Markets had surged after Beijing announced a flurry of measures aimed at reviving the housing market after a prolonged downturn. That news also boosted prices for oil, copper…
The medium-term lending facility — the interest for one-year loans to financial institutions — was cut from 2.3 percent to 2.0 percent, the People’s Bank of China said (ADEK BERRY) China’s central bank on Wednesday said it would slash another key interest rate, a day after it unveiled a raft of new measures aimed at…
Businesspeople and entrepreneurs “are not bystanders” in Hong Kong, the city’s leader has said, vowing to lead different sectors to help boost the economy and improve livelihoods following his meeting with a senior Beijing official last week. Chief Executive John Lee Ka-chiu made the pledge on Tuesday, days after hearing from Xia Baolong, director of…
Hong Kong will hold a citywide contest next month to name two giant pandas gifted by Beijing before they meet the public in December, the chief executive has said. City leader John Lee Ka-chiu also said on Tuesday the pair would need 30 days of quarantine upon their arrival and another month to adapt to…
Hong Kong authorities will appoint a panel to decide the names of two giant pandas being gifted by Beijing, with the decision to be made after the pair arrive in the city on Thursday, the Post has learned. Sources said on Monday night that the bears, aged five to eight years, which is equivalent to…
The number of non-locally trained doctors working at Hong Kong’s public hospitals will reach 300 by the end of the year, including about 70 under an exchange programme with mainland China and Macau, health authorities have said. The Hospital Authority chairman Henry Fan Hung-ling said on Monday that officials had spoken with their mainland and…