Chinese Markets Surge Amid Trade Talks and Stimulus Hopes
Chinese markets surged on Wednesday due to optimism over upcoming Sino-U.S. trade discussions and China's planned economic stimulus. Key indexes, including the CSI 300 and Hang Seng, saw notable gains as officials aim to address global trade tensions. New monetary measures by Beijing aim to support economic growth.
Chinese markets opened with significant gains on Wednesday, as optimism builds around upcoming Sino-U.S. trade negotiations and Beijing's latest stimulus plans. The blue-chip CSI 300 Index jumped 1.4%, reaching its highest since early April, while the Shanghai Composite Index saw a 1.2% increase.
Hong Kong's Hang Seng Index climbed 2.2%, reaching its peak in nearly five weeks. U.S. Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer are set to meet China's top economic official in Switzerland, which could mark a crucial step toward resolving the ongoing trade dispute impacting the global market.
China's central bank announced measures aimed at spurring economic growth, cutting key lending rates, and establishing significant funds for elderly care services. These actions come as measures to counteract trade-related risks, causing the offshore yuan to slip amidst the announcements.
(With inputs from agencies.)
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