Chinese equities are on track for their best week since 2008 after Beijing launched an economic stimulus package including a $114bn war chest to boost the stock market. The CSI 300 index of Shanghai- and Shenzhen-listed companies is up almost 15 per cent for the week in its best performance since November 2008, when China announced a similar stimulus package in response to the global financial crisis.
The region-wide Stoxx 600 closed at a record high on Thursday pushed higher by luxury groups that would benefit from stronger consumer spending in China. The China rally followed Wall Street gains after the S&P 500 closed on Thursday at a record high for the third time this week, with equities climbing ahead of Friday’s inflation report.
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