[ad_1]
Stock markets in China resumed Monday at the end of last week, with indices up more than 4%.
The Shanghai Composite
SHCOMP, + 4.36%
rose 4.5% Monday, while the Shenzhen
399,106, + 4.99%
was 5.7% higher. This helped to lift shares in Hong Kong
HSI, + 2.36%
2.4%. The rebound of the two also helped to dampen early sales seen elsewhere in the region.
China's recovery comes after last week's report on lower-than-expected GDP growth in the third quarter. Investment Bank Nomura announced Monday that it expected Beijing will implement further easing and stimulus measures in the coming months. Chinese authorities on Friday tried to bail out the market by favorable statements on the economy and financial markets, which helped the stock Friday, but for the week, the Shanghai Composite still lost 7.6%.
Nomura added that GDP could reach 6.5% this quarter as well "due to export anticipation" ahead of any additional US tariffs in January and "a loosening of restrictions on this winter's anti-pollution campaign." Slowdown in Chinese economic growth next year.
1% decrease compared to Japan's Nikkei
NIK + 0.46%
has risen towards noon to reach about 0.4%. Similar declines were recorded in South Korea
SEU, + 0.11%
, Taiwan
Y9999, + 0.55%
and Malaysia
FBMKLCI, -0.41%
while the Australian S & P / ASX 200
XJO, -0.58%
late with a drop of 0.6%. The futures on the S & P 500 index showed modest gains for later Monday.
Opinion: Smart money says it's time to buy the Chinese giants of the internet and the US FAANG
In South Korea, Bank of Korea Governor Lee Ju-yeol alluded to his desire to tighten policy next month. "If the real economy is not significantly disrupted, we will consider whether or not to increase the base rate proactively," he said. Monday's parliamentary audit. Last week, the BOK maintained its rates while lowering its GDP growth forecast. But there are now two members of the central bank who are asking for higher interest rates.
This story was compiled from reports from Dow Jones Newswires.
Provide essential information for the US trading day. Subscribe to the free MarketWatch Need to Know newsletter. Register here.
Source link
