Chinese Stocks Surge Amid Interest Rate Cuts
Chinese and Hong Kong stocks saw significant gains as healthcare and consumer sectors led the rise. This was driven by China's decision to cut key lending rates for the first time since October, aiming to ease the economic impact of the ongoing Sino-U.S. trade tensions.
China and Hong Kong stock markets experienced a bullish run on Tuesday, largely fueled by healthcare and consumer shares. The positive market sentiment followed China's decision to slash key lending rates, marking the first rate cut since October.
By midday, China's blue-chip CSI300 Index climbed 0.6%, and the Shanghai Composite Index rose 0.4%. Hong Kong's Hang Seng Index made a substantial leap, appreciating by 1.3% and reaching a near two-month high.
The easing of lending rates, alongside the progress in U.S.-China trade negotiations, helped diminish market uncertainties. This policy shift encouraged investor confidence, leading to a rise in risk appetite, as noted by TF Securities. Notably, 3SBIO shares soared after an agreement with Pfizer, and CATL's shares performed robustly post their $4.6 billion Hong Kong listing.
(With inputs from agencies.)
- READ MORE ON:
- China
- stocks
- Hong Kong
- market
- healthcare
- consumer shares
- interest rate
- cuts
- Sino-U.S. trade
- CATL
ALSO READ
Federal Reserve Holds Steady on Interest Rates Amid Economic Uncertainties
Norway's Central Bank Maintains 17-year High Interest Rate
Infinx Acquires i3 Verticals' Healthcare RCM Business for USD 96M
Norway Holds Steady: Interest Rates at a 17-Year High Amid Inflation Concerns
Tripura Celebrates World Red Cross Day with Healthcare and Education Initiatives
Google News