US-listed Chinese stocks broadly higher after PBOC announces stimulus

  • 📰 Investingcom
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 53%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

US-listed Chinese stocks broadly higher after PBOC announces stimulus

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 450. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines

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

Chinese stocks lead Asia gains as PBOC announces slew of policy easing measures in rare briefingThe People’s Bank of China has announced that it will reduce the reserve requirement ratio by 50 basis points, among other measures.
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »