China and Hong Kong stocks jump as aggressive stimulus boosts sentiment

Quick Summary:

China and Hong Kong stocks rallied broadly for a second day on Sept 25 as investors basked in the afterglow of a wide-ranging stimulus package announced in the previous day.

PBOC Governor Pan Gongsheng on Sept 24 said it will set up a facility allowing securities firms, funds and insurance companies to tap liquidity from the central bank to purchase equities.

Beijing on Sept 24 announced a slate of support measures including rate cuts, mortgage requirement easing, and fresh funding for equity purchases, in a bid to prop up the ailing economy.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChinaHong Kong

Topics: Liquidity Stock Hong Market Facility Funds China Measures Kong Index Cent

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-25 @ 11:01:41 (3 days ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 876 words

Reading Time: 5 minutes read

Sentences: 34 lines

Sentence Length: 26 words per sentence (average)

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Copyright Owner: © The Straits Times

News ID: 22702187

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