Stock market today: Asian shares gain as China eases rates to aid property industry

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Asian shares have advanced, with Chinese markets logging the biggest gains after the central bank announced a slew of measures to support the economy.

In Texas visit, second gentleman Douglas Emhoff raises more than $1 millionPOLL: City council pay raises, reversing city manager pay cap unpopular with San Antonio votersGet ready to travel this fall with these Insider DealsA person looks at an electronic stock board showing Japan's Nikkei index at a securities firm Tuesday, Sept. 24, 2024, in Tokyo. Among various policies aimed at countering a prolonged downturn in the property sector, People’s Bank of China Gov.

“But it will probably be insufficient to drive a turnaround in growth unless followed up with greater fiscal support,” he said. Tesla led the way with a gain of 4.9% and clawed back all its sharp losses from earlier in the year. It had shed as 42% at one point in April, when it was cutting prices on its cars to boost

Several economic reports coming later in the week could offer more context about where the U.S. economy stands. One on Thursday will offer the final revision for the U.S. economy’s growth in the spring, and another on Friday will give a look at how much U.S. consumers are spending.

 

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