Chinese Stocks Extend Gains on Continued Stimulus Optimism

-- Chinese stocks extended their gains on Wednesday as investors continued to bet that Beijing’s latest stimulus measures would help drive a market turnaround and kickstart the country’s sluggish economy.The onshore benchmark CSI 300 Index was up 2.1% as of the mid-day trading break, close to recovering all of its losses for 2024. The Hang Seng China Enterprises Index rose more than 2% following a 5.1% gain in the previous session.

“We believe these coordinated policy announcements could pave the way for further policy support and raise the possibility of an economic upcycle in 2025,” Chaoping Zhu, global market strategist at JP Morgan Asset Management, wrote in a note. “Combined with private sector companies that have improved their profit margin and corporate fundamentals, we do see value opportunities in Chinese equities, and diversification opportunities given the expensive markets around the world.

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