Chinese stocks listed onshore slumped at the open amid skepticism about Beijing’s stimulus plans and signs of weakness in holiday-spending data. The benchmark CSI 300 Index dropped as much as 5.1% in early trading, set for its first loss in 11 days. A gauge of Chinese companies listed in the US had slid 6.9% Tuesday…
China’s most powerful stock rally in a decade rose out of desperation, but can dissipate just as quickly if met with nothing but empty words. As of Monday, the benchmark MSCI China and CSI 300 indices gained 36% and 27% from their recent lows after top policymakers promised a barrage of stimulus measures at the…
Goldman Sachs Group Inc. upgraded its call on Chinese stocks to overweight, as it joined a camp of optimists that are touting the positive impact of Beijing’s stimulus blitz. Gauges tracking the nation’s equities may rise another 15%-20% if authorities deliver on policy measures, strategists including Tim Moe wrote in a note dated Oct. 5….
Chinese stocks are on a roll relative to their US peers as optimism over Beijing’s stimulus measures triggered a dramatic rebound. If history is any guide, the rally may have a long way to go, DataTrek Research says. Consider the relative performance of the iShares China Large-Cap ETF (FXI) compared with the SPDR S&P 500…
China’s railway network saw a record number of trips made on the first day of its week-long holiday, offering early signs of a consumer spending pickup in the world’s second-biggest economy. More than 21 million trips were made on Tuesday, when China kicked off its National Day holiday period, Xinhua News Agency reported. That’s a…
Workers at ports on the East and Gulf Coasts went on strike Tuesday following a breakdown in negotiations between the union representing them, the International Longshoremen’s Association (ILA), and the organization of international shipping companies that employ them. Approximately 45,000 workers walked off the job at 12:01 am, making it the most significant strike the…
“Do It,” proclaimed the title of an article posted by Chinese investment bank Citic Securities as it called for investment – including stock trading – in response to Beijing’s dauntless display of determination this week to revive the economy. “The signal is clear, and one phrase says it all – do it,” the broker said…
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…
Wall Street rejoiced over this week’s interest rate cuts, but there’s another investor class that was just as enthusiastic: venture capitalists. The tech correction of the last couple of years has left many startup investors longing for the Federal Reserve’s bygone zero interest rate policy, or ZIRP, which helped fuel the industry’s boom in 2021…
Asian currencies advanced to the strongest level in more than a year after the Federal Reserve kicked off policy easing and signaled further interest-rate reductions this year. The Bloomberg Asia Dollar Index rose 0.2% on Thursday, bringing the gauge to the highest since July 2023. The Indonesian rupiah and South Korean won led the gains,…