China Rebound Leads Global Stocks Higher. Goldman Says there is More Stimulus to Come.

Hong Kong’s Hang Seng Index jumped 2.4%, while the Shanghai Composite was 1.4% higher. Property developer Country Garden’s shares surged 17% after it struck a deal with creditors to extend payments for an onshore private bond, according to a Reuters report. There were also strong gains for China’s largest tech names— Alibaba rose 3.3% and JD.com climbed 5%.

The pan-European Stoxx 600 Index rose 0.7% in early trading, while Germany’s DAX climbed 0.6%, France’s CAC was 0.9% up, and the U.K.’s FTSE 100 rose 0.6%.

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UBS Cuts VW Rating On China Threat; Company Says China Going WellUBS cut VW to “sell” from “neutral”, saying it is the most exposed carmaker to China. VW said its activity in China was progressing. Profitability is its top priority.
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