Nikkei Sinks, But China Stocks See Their Biggest Day Since 2008

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Mainland China stocks enjoyed their biggest single-day gains since 2008, with property stocks soaring after mortgage cuts were announced by the PBOC; meanwhile, the Nikkei plunged on news of Japan's new PM The post Nikkei Sinks, But China Stocks See Their Biggest Day Since 2008 appeared first on Asia Financial.

Particularly in a boost for stocks, the People’s Bank of China’s also introduced two fresh tools to boost the capital market, one of which includes a swap programme allowing funds, insurers and brokers easier access to funding in order to buy stocks.

Late on Sunday, China’s central bank said it would tell banks to lower mortgage rates for existing home loans before October 31, as part of sweeping policies to support the country’s beleaguered property market.

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Author / Journalist: Jim Pollard

Category: InvestingBusiness

Markets: Hong KongAustraliaChinaGreenlandJapanSingaporeThailand

Topics: North Asia Markets Real Estate World Market Insights ESG Capital Markets

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-30 @ 12:47:05 (16 hours ago)

News Timezone: GMT +8:00

News Source URL: asiafinancial.com

Language: English

Article Length: 835 words

Reading Time: 5 minutes read

Sentences: 32 lines

Sentence Length: 27 words per sentence (average)

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News ID: 22795583

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