China's stock turnover hits 4-year low as traders await stimulus due to coronavirus impact

From Google News: 2024-08-15 03:26:23

China’s stock turnover has hit a 4-year low as traders anticipate further stimulus measures. The turnover in China’s stock market fell to 127.3 billion yuan, the lowest level since January 2016, due to concerns over the economic impact of the coronavirus outbreak.

Investors are awaiting government measures to support the economy, as China faces the slowest economic growth in almost three decades. The Chinese government is expected to introduce stimulus measures, such as lower lending rates and more fiscal spending, to boost economic activity and stabilize the stock market.

The economic impact of the coronavirus outbreak has led to a decline in China’s overall stock market performance. The benchmark Shanghai Composite Index fell 1.72% to close at 2,976.53 points, while the Shenzhen Component Index dropped 2.78% to end at 11,114.63 points as investors remain cautious.

The Chinese government is working on various measures to support the economy, including providing funds to medium and small-sized enterprises, lowering lending rates, and increasing local government bond issuance to spur economic growth and stabilize the country’s stock market amid the ongoing outbreak.



Read more at Google News: China’s stock turnover hits 4-year low as traders await stimulus – South China Morning Post