Hong Kong, China stocks weaken as Beijing policy move disappoints amid tariff worries

Quick Summary:

Sentiment suffers with prospect of tariffs, slower global growth, rising inflation and potentially fewer Fed rate cuts, say Nomura analysts.

The policy announcement has been seen as insufficient to inject life into the nation’s sluggish economy.“Markets may have been disappointed, as only debt swap programmes were announced,” Ting Lu, the chief China economist at Nomura, said in a note on Monday, adding that failing to mention any upcoming fiscal stimulus could deal a blow to markets.

On Friday, the standing committee of China’s top legislature approved an additional 6 trillion yuan (US$835 billion) bond quota to defuse hidden local debts.

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Article Details

Author / Journalist: Mia Castagnone

Category: Business

Markets: Hong KongChina

Topics: Fell Stocks Friday Announcement Monday Index Policy Hong Disappointed Cent Kong

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-11 @ 10:18:15 (3 days ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 224 words

Reading Time: 2 minutes read

Sentences: 7 lines

Sentence Length: 32 words per sentence (average)

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Copyright Owner: © SCMP

News ID: 23579582

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