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

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Global stocks climbed Monday, driven by a Chinese rebound as authorities eased mortgage rules to boost the country’s ailing property sector.

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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