China's Stimulus Package Fuels Surge in Singapore-Listed Chinese Stocks

📆 03/10/2024 02:50:00
📰 staronline

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Finance,CHINA STIMULUS,SINGAPORE STOCK MARKET

Singapore Exchange (SGX)-listed Chinese companies have seen a sharp rally in recent days, with share prices surging to their highest level in years following Beijing's unexpectedly large stimulus package.

Singapore Exchange quoted Yanlord Land’s stock price has surged 57 per cent over the past week, while solar energy player Sunpower Group is up 38 per cent. - BT FILE

This came after China last week unveiled a stimulus package to counter a multi-year slowdown in growth due to its ailing property sector, weak exports and sluggish domestic demand. “Right now, we think the market is also participating in the potential upside from stimulus through Singapore, given China is closed for Golden Week,” he pointed out.

While the immediate impact on markets is obvious, analysts are also watching to see how effective the stimulus measures will be over time.

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