Stock market today: World shares mixed after China pledges more support for slowing economy

BANGKOK — World shares were mixed Wednesday after China pledged more spending to energize its economy.

The aim is to drive more domestic spending and “further cement the recovery momentum of the Chinese economy,” the official Xinhua News Agency quoted Zhu Zhongming, a vice minister of finance as saying. Chinese shares logged moderate gains on Wednesday, with Hong Kong's Hang Seng rising 0.6% to 17,085.33. The Shanghai Composite index added 0.4% to 2,974.11.

Until now, the overall economy has remained remarkably resilient in the face of much higher interest rates. A solid job market and spending by U.S. households has helped keep the economy chugging along. A biotech firm founded by Vivek Ramaswamy turned $15 million into $5 billion by flipping a bowel-disease treatment that Pfizer gave it for free

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Analysis-China holds the key to Hong Kong's shrinking stock marketExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

Analysis-China holds the key to Hong Kong's shrinking stock marketHong Kong's efforts to revive its shrinking stock market are mere stopgap solutions, as analysts say a reversal in fortunes for Asia's premier financial hub ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stocks close mixed as yields recede from 16-year highs: Stock market news todayThe 10-year Treasury yields passed a key milestone on Monday morning but whipsawed lower in a volatile day for bond market action.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »