Alibaba, JD.com, and Other Chinese Stocks Climb. What Is Behind the Rally.

Chinese stocks climbed on Monday after the government said it would reduce a tax on trading and take other steps to boost its capital markets.The measure is designed to “invigorate the capital market and boost investor confidence,” according to the Chinese government-backed Global Times newspaper. China’s securities regulator also plans to limit new listings, which could help balance supply and demand, and relax margin rules for buying securities.

Hong Kong’s Hang Seng Index rose 1.0%. Big technology companies were among the gainers, with Alibaba rising 1.7% and JD.com gaining 1.0%. in local trading. Read this American depositary receipts of Alibaba were up 2.2% in early trading and ADRs of JD.com were up 1.7%. The move is the latest in a series of efforts to lift confidence among Chinese investors in the face of the country’s sputtering economy and ongoing tensions between the U.S. and China.

Recent proposals from the China Securities Regulatory Commission ranged from offering longer trading hours to encouraging share buybacks by listed companies. However, such reforms might not be enough to build long-term confidence from overseas and domestic investors as they watch for the potential fallout from the company’s ailing property sector, which represents 70% of Chinese households’ wealth.

مصر أحدث الأخبار, مصر عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

China's big internet names have mostly beat. Here's where analysts think the stocks are headedChinese internet tech companies Alibaba, Tencent and Baidu have reported solid quarterly earnings this month.
مصدر: CNBC - 🏆 12. / 72 اقرأ أكثر »

Chinese stocks rally as Beijing rolls out more support By Investing.comChinese stocks rally as Beijing rolls out more support
مصدر: Investingcom - 🏆 450. / 53 اقرأ أكثر »

Chinese Stocks Rally After Beijing Moves to Boost MarketRegulators cut stamp duty and plan to reduce IPO supply
مصدر: WSJ - 🏆 98. / 63 اقرأ أكثر »

European shares rise as fresh Chinese measures lift mood, tech stocks rally By ReutersEuropean shares rise as fresh Chinese measures lift mood, tech stocks rally
مصدر: Investingcom - 🏆 450. / 53 اقرأ أكثر »

Chinese stocks get brief uplift from first share dealing tax cut since 2008China has made a series of moves to restore investor confidence in the world’s second largest economy, including cutting a tax on stock trading for the first time since 2008.
مصدر: CNN - 🏆 4. / 95 اقرأ أكثر »

Chinese Stocks Rally After Cut to Tax on Trades. Alibaba, JD.com Are Rising.China’s Ministry of Finance on Sunday said it would halve stamp duty on securities transactions, to 0.05%, starting Monday.
مصدر: MarketWatch - 🏆 3. / 97 اقرأ أكثر »