Tech Geek on Nostr: Chinese stocks are headed for the best week since 2008 as Beijing rolled out a huge ...
Chinese stocks are headed for the best week since 2008 as Beijing rolled out a huge stimulus package to revive the economy, lifting Asian shares to 2-1/2-year highs, while a sharp fall in oil prices bodes well for disinflation globally.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 1.1% to its highest level since February 2022. It was headed for a weekly gain of 6%, thanks to a huge turnaround in Chinese shares.
China's blue chips jumped another 2.9%, bringing the weekly rise to 14%, the most since November 2008.
Hong Kong's Hang Seng index also surged 2.7% and was up 12% for the week, its best performance since 2009.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 1.1% to its highest level since February 2022. It was headed for a weekly gain of 6%, thanks to a huge turnaround in Chinese shares.
China's blue chips jumped another 2.9%, bringing the weekly rise to 14%, the most since November 2008.
Hong Kong's Hang Seng index also surged 2.7% and was up 12% for the week, its best performance since 2009.