Chinese stocks surge to best week in over a decade post-government stimulus, fueled by positive sentiment

From Google: 2024-09-29 12:35:13

Chinese stocks have soared to their best week in over a decade following a government stimulus package aimed at boosting the economy. The Shanghai Composite Index rose by 5.6% this week, closing at its highest level since 2015. This surge comes amidst renewed trade tensions with the United States.

Investors are responding positively to the Chinese government’s efforts to spur economic growth through monetary stimulus. The People’s Bank of China has injected a total of 400 billion yuan into the financial system this week, signaling a commitment to support the economy. The stimulus push has led to a sharp rally in Chinese stocks.

The Hang Seng Index in Hong Kong also experienced gains, rising by 3.6% this week. Technology and healthcare stocks were among the top performers, with Tencent Holdings and Sunny Optical Technology Group posting strong gains. The positive market sentiment has been fueled by hopes of a potential trade deal between the US and China.

Despite ongoing trade tensions, Chinese investors remain optimistic about the future of the stock market. The recent stimulus measures implemented by the Chinese government have played a key role in boosting investor confidence and driving the market rally. Analysts expect the positive momentum to continue in the coming weeks.



Read more at Google: Chinese stocks see best week in over a decade post-stimulus push – MSN