WNYT NewsChannel 13 on Nostr: Stock market today: World markets are lower after China unveils 5% economic growth ...
Stock market today: World markets are lower after China unveils 5% economic growth target for 2024
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World markets are lower after China announces 5% economic growth target for 2024. Germany's DAX, France's CAC 40, and UK's FTSE 100 all fell 0.3%. Hong Kong's benchmark sank 2.6%. China's premier, Li Qiang, announced the growth target at the opening meeting of China's National People's Congress. China's economy expanded at a 5.2% annual rate last year. Li also said China would issue 1 trillion yuan in long-term bonds and expand government-subsidized housing. However, the government's intention to keep its deficit at 3% of China's GDP disappointed investors. The congress mainly endorses policies set by top leaders of the ruling Communist Party. Japan's Nikkei 225 ended flat, Seoul's Kospi sank 0.9%, and Australia's S&P/ASX 200 edged 0.2% lower. Several events scheduled for this week could upset the market, including Federal Reserve Chair Jerome Powell's testimony on monetary policy and the release of the U.S. job market report. U.S. benchmark crude oil fell to $78.56 per barrel, and the U.S. dollar slipped to 150.42 Japanese yen.
#StockMarket #China #EconomicGrowth #GovernmentBonds #Housing #Deficit #FederalReserve #MonetaryPolicy #JobMarket #CrudeOil #UsDollar
https://wnyt.com/us-news/stock-market-today-world-markets-are-lower-after-china-unveils-5-economic-growth-target-for-2024/
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World markets are lower after China announces 5% economic growth target for 2024. Germany's DAX, France's CAC 40, and UK's FTSE 100 all fell 0.3%. Hong Kong's benchmark sank 2.6%. China's premier, Li Qiang, announced the growth target at the opening meeting of China's National People's Congress. China's economy expanded at a 5.2% annual rate last year. Li also said China would issue 1 trillion yuan in long-term bonds and expand government-subsidized housing. However, the government's intention to keep its deficit at 3% of China's GDP disappointed investors. The congress mainly endorses policies set by top leaders of the ruling Communist Party. Japan's Nikkei 225 ended flat, Seoul's Kospi sank 0.9%, and Australia's S&P/ASX 200 edged 0.2% lower. Several events scheduled for this week could upset the market, including Federal Reserve Chair Jerome Powell's testimony on monetary policy and the release of the U.S. job market report. U.S. benchmark crude oil fell to $78.56 per barrel, and the U.S. dollar slipped to 150.42 Japanese yen.
#StockMarket #China #EconomicGrowth #GovernmentBonds #Housing #Deficit #FederalReserve #MonetaryPolicy #JobMarket #CrudeOil #UsDollar
https://wnyt.com/us-news/stock-market-today-world-markets-are-lower-after-china-unveils-5-economic-growth-target-for-2024/