BEIJING (Reuters) – China’s factory activity in September shrank for a fifth straight month while the services sector slowed sharply, suggesting even more stimulus is needed to hit Beijing’s 2024 growth target with only three months left in the year. The National Bureau of Statistics (NBS) purchasing managers’ index (PMI) released on Monday nudged up…
China urgently needs a fiscal policy package to fully boost market confidence following stimulus measures announced last week, a former central bank adviser has urged. “I think the ball is now in the Ministry of Finance’s court. We hope to see new actions from them,” outspoken economist Yu Yongding told a forum in Beijing on…
“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…
Costfoto/NurPhoto/Getty Images, Tyler Le/BI Beijing’s latest housing-support measures won’t fix China’s property crisis, JPMorgan wrote. The nation announced this week that it will reduce mortgage rates and downpayment rules. That’s unlikely to boost much-needed consumption in the sector, JPMorgan said. China’s all-out stimulus package will fail to meaningfully reverse ongoing chaos in the nation’s property…
(Bloomberg) — Asian shares gained for a fifth day as a rally sparked by support measures from Beijing continued, while US stocks set fresh highs, with investors preparing for further rate cuts. Most Read from Bloomberg Equity benchmarks rose in South Korea and Australia, while those for Japan were mixed after the yen strengthened against…
The People’s Bank of China (PBOC) plans to set up a swap facility that would give non-bank financial institutions access to at least 500 billion yuan (US$71 billion) in funding to buy shares, in a surprise move aimed at stabilising the stock market. However, some analysts called for more drastic action to shore up investor…
A look at the day ahead in European and global markets from Ankur Banerjee Investors have long clamoured for China to unleash broad-based stimulus measures to help turn sentiment around, and while Tuesday’s measures are well short of a ‘big bazooka’ move, it may still be a step in the right direction. Chinese stocks surged…