Premarket: World stocks higher as China boost lingers for now

📆 29/08/2023 19.54.00
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China’s recent efforts to shore up markets underpin sentiment on global markets

World stocks rallied on Monday, with sentiment supported by China’s efforts to shore up its battered markets and lift confidence towards the world’s No.2 economy.

Beijing at the weekend introduced a slew of measures to shore up the market, such as halving stock trading stamp duty, loosening margin loan rules and putting the brakes on new listings. “September will reveal the true underlying sentiment in markets,” said Nordea chief markets strategist Jan von Gerich.

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