Asian stocks slipped Monday in response to a lukewarm reception to China's $839 billion stimulus package.The package, which was approved Friday, was designed to alleviate local government debt but fell short of investor expectations for more substantial economic support.Hong Kong's Hang Seng Index dropped 1.5 percent to 20,426.93, while the Shanghai Composite Index managed a small rebound after early losses, ending the day 0.5 percent higher at 3,470.07.
'While it's a substantial number, the stimulus is less about jump-starting economic growth and more about plugging holes in a struggling local government system.'The latest inflation report in China showed a year-on-year increase of 0.3 percent in October, according to the National Bureau of Statistics.This marks a decline from September's 0.4 percent rise, and puts inflation at its lowest level in four months.US Markets Closed HighU.S.
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:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asian chip stocks fall on ASML's disappointing forecast, possible U.S. export capShares of Japanese semiconductor manufacturing firm Tokyo Electron logged the biggest loses, dropping nearly 10%.
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »
Stock market today: Asian stocks decline as China stimulus plan disappoints marketsAsian stocks fell on Monday, led by a more than 2% drop in Hong Kong’s Hang Seng index, as China’s stimulus package disappointed investor expectations.
Source: wjxt4 - 🏆 246. / 63 Read more »
Stock market today: Asian stocks decline as China stimulus plan disappoints marketsAsian stocks fell on Monday, led by a more than 2% drop in Hong Kong’s Hang Seng index, as China’s stimulus package disappointed investor expectations.
Source: ksatnews - 🏆 442. / 53 Read more »
Stock market today: Asian stocks decline as China stimulus plan disappoints marketsAsian stocks fell on Monday, led by a more than 2% drop in Hong Kong’s Hang Seng index, as China’s stimulus package disappointed investor expectations. China on Friday approved a 6 trillion yuan plan during a national legislature meeting.
Source: AP - 🏆 728. / 51 Read more »
Asian stocks slide as China stimulus disappoints; bitcoin extends record rallyAsian stocks slide as China stimulus disappoints; bitcoin extends record rally
Source: Investingcom - 🏆 450. / 53 Read more »
Asia stocks fall as China stimulus disappoints, deflation persistsAsia stocks fall as China stimulus disappoints, deflation persists
Source: Investingcom - 🏆 450. / 53 Read more »