China’s stock markets are running at a two percent rise.
The rise of the Hang Seng index continued uphill by 2.0 percent, led by the energy and raw materials sectors. The Hang Seng Real Estate Index rose 1.8 percent.
Mainland China’s CSI 300 index rose 2.1 percent on the strength of cyclical and industrial stocks.
In Japan, the development was more muted, as the Nikkei 225 index was up 0.2 percent.
Stocks rose in Asia as China’s sweeping stimulus package boosted stocks for the second day in a row and strengthened the yuan.
“Chinese stocks continued to rise as investors’ faith strengthened that China’s latest measures would help turn the market around and jump-start the country’s slow-growing economy,” summed up in a review by financial news agency Bloomberg this morning.
Investors appear to be cautiously optimistic that the policy support package would have set the stage for a decline in China’s stock prices.
“The slowdown in the world’s second-largest economy has been a significant drag on Asian stocks, and a significant recovery on the back of political support could help lift prices across the region.”
The US central bank’s interest rate cuts have also boosted the market.
Based on index futures, Wall Street is expected to open downward at this stage.
Source: www.arvopaperi.fi
