China saw its stock markets surge after the national holiday, but gains vanished as the lack of new stimulus measures left investors uncertain about economic recovery. The National Development and Reform Commission expressed confidence in achieving economic goals but refrained from significant announcements, disappointing investors. Despite no new stimulus, China plans to continue existing policies and issue long-term government bonds for infrastructure projects. Shares jumped but eventually dropped with Hong Kong’s Hang Seng index falling drastically. China’s economic agency aims to accelerate spending, support vulnerable groups, and allocate funds to key sectors and projects. Still, experts believe more fiscal policies are necessary for sustainable growth. The economy, hampered by lockdowns and a property slump, faces challenges impeding a full recovery post-Covid. Beijing’s stimulus packages aim to boost growth but fall short of the 5% target. As China grapples with economic hurdles, it remains to be seen if further policy actions can sustain the recent rally.
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China’s stock market stumbles as Beijing declines new stimulus, halt’s stock boom in 80 characters
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Shweta Sharma
Shweta Sharma is a reporter/journalist working for the Independent UK from Delhi, India. She has worked with international media like Sputnik International, India Today, Cover Asia Press, among others. Shweta Sharma covers current events and politics.