Asia shares stutter as China's stimulus pledges fail to inspire

Quick Summary:

SINGAPORE: Asian stocks swung between gain and loss on Monday as investors struggled to reach a consensus view on China's broad economic stimulus promises made over the weekend which were light on specifics.

Reflecting the lingering concerns over the Chinese economy, the onshore yuan slipped 0.12% to 7.0750 per U.S.dollar, while its offshore counterpart fell 0.18% to 7.0830 per dollar.

The divergence was apparent on Monday, after shares in Hong Kong opened lower and were choppy in early trade, contrasting sharply with their mainland Chinese peers which got off to a strong start.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChinaHong KongJapanSingapore

Topics: Markets Stimulus /Business/Business News GDP Asian MSCI Hang Seng

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-14 @ 14:40:00 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 614 words

Reading Time: 4 minutes read

Sentences: 25 lines

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Copyright Owner: © The Star

News ID: 23031719

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