news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

on tuesday, asian stocks generally rose, boosted by a series of financial market stimulus policy news in china, and the msci asia pacific index (excluding japan) soared directly to a high of more than two and a half years, indicating strong market optimism.

asia-pacific stock markets generally rose

at the state council information office press conference held this morning, major news came out one after another, including lowering the reserve requirement ratio, reducing the interest rate of existing mortgage loans, creating special re-loans for stock repurchases and share purchases, supporting huijin investment co., ltd. to increase its holdings in the capital market, and studying the creation of a stabilization fund. the three major regulatory departments, "one bank, one bureau, and one commission", jointly launched a "combination punch" of financial market policies.

boosted by this set of financial policy "combination punches", the a-share market surged throughout the day, with all three major indexes rising by more than 4%. the shanghai composite index recorded its largest single-day increase since july 6, 2020.

the market's optimism has spread to the entire asia-pacific stock market. on tuesday, the msci asia pacific index (excluding japan) rose 0.92% to 591.47 points, the highest level since april 2022.

in the hong kong market, the hang seng index closed up 4.13%, and the hang seng technology index closed up 5.88%. in terms of individual stocks, r&f properties rose 16%, china pacific insurance rose more than 12%, nio rose more than 11%, jd.com, china merchants bank, and citic securities all rose more than 10%.

the nikkei 225 index closed up 0.57% at 37,940.59, hitting a nearly three-week high. at the morning opening, the nikkei 225 index soared above 38,000 points for the first time since september 3. the topix index closed up 0.54% at 2,656.73 on tuesday.

the yen fell to 144.11 yen against the dollar on tuesday as bank of japan governor kazuo ueda said in a speech on tuesday that the bank of japan is in no hurry to raise interest rates further.

south korea's kospi index closed up 1.14% at 2631.68 points, rising for the sixth consecutive day and also hitting a nearly three-week high.

european stock markets also rose collectively at the opening, with the euro stoxx 50 index up 1.16%, germany's dax 30 index up 0.88%, france's cac 40 index up 1.34% and britain's ftse 100 index up 0.59%.

improve market confidence

some overseas investment bank analysts have given positive comments on china's series of financial market stimulus measures.

tom xie, head of greater china research at ocbc bank in singapore, said:

this time, the eye-catchingchina's central bank has unveiled new policy tools to support the stock market, which could have wider implications.…this move is noteworthy because if these tools succeed in restarting investor sentiment and reinvigorating optimism, it could have a positive medium-term impact on the economy. increased stock market activity and confidence could spur growth, ultimately leading to higher bond yields and a stronger yuan as the economy strengthens.

winnie wu, china strategist at bank of americain an interview, he described the comprehensive stimulus plan as "a big bang to boost investor confidence in market."

she said,in the short term, they are positive on sectors such as banking and insurancehowever, she added that the recovery in domestic consumption will take longer to resume, which means more efforts are needed on the fiscal policy and structural reform fronts to make the market rebound sustainable.

homin lee, senior macro strategist at lombard odier singapore ltd.the central bank spoke highly of the package, saying: "this package of measures is quite well formulated and provides useful guidance for further easing in the future."