Chinese Stocks Bounce Back as Stimulus Hopes Offset Trump Risks [Yahoo! Finance Canada]
BANK OF EAST ASIA S/ADR (BKEAY)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The onshore CSI 300 Index climbed 3% to finish at its highest level in about a month, despite a 1% loss after the opening bell. It fell 0.5% in the previous session. A key gauge of Chinese firms listed in Hong Kong closed 2.5% higher. China's currency also flipped to gains, even after the country's central bank slashed its daily reference rate to a level unseen since late 2023. The onshore yuan rose as much as 0.3% versus the dollar in the afternoon, reversing a 0.2% decline as state banks sold the greenback. Optimism is growing that authorities may announce stronger stimulus measures after a key legislature meeting concludes on Friday, which would help cushion any blow from potential tariffs threatened by President-elect Donald Trump. Sentiment also got a boost as data showed China's export growth surged in October to the fastest since July 2022, exceeding economists' forecasts. “The logic is Trump tariff will trigger bigger stimulus,” said Siguo Che
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