Investing.com -- US-listed Chinese stocks surged on Tuesday following the People's Bank of China announcement of a comprehensive stimulus package aimed at boosting the economy.In a note Tuesday, JPMorgan highlighted the key components of the package, which include a 50 basis-point cut to the reserve requirement ratio , a 20 basis-point cut to the 7-day reverse repo rate, and a 50 basis-point reduction in mortgage rates.
JPMorgan's note emphasized the magnitude of the easing measures, which surpass the responses seen during the COVID-19 outbreak in 2020. While the PBOC's actions provide near-term relief, JPMorgan cautioned that monetary easing alone may not be enough to sustain long-term growth, urging for more fiscal support.
The stimulus, alongside the potential for further rate cuts, is expected to help stabilize China's economy.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.
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