Chinese stocks post best week since 2008 after stimulus blitz [Financial Post (Toronto, Ontario, Canada)]
Citigroup, Inc. (C)
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Source: Financial Post
You can save this article by registering for free here . Or sign-in if you have an account. Chinese equities have surged to their best week since 2008 after Beijing launched an economic stimulus package including a US$114 billion war chest to boost the stock market. The CSI 300 index of Shanghai- and Shenzhen-listed companies is up 15.7 per cent for the week in its best performance since November 2008, when China announced a similar stimulus package in response to the global financial crisis. The rally, which has also helped buoy European markets and industrial metals, comes as China's leadership rushes to support the country's capital markets, stabilize a property sector crisis and boost domestic consumption in order to meet its economic growth target of five per cent for the year. On Tuesday, the People's Bank of China unveiled an 800 billion renminbi (US$114 billion) lending pool for the country's capital markets, comprising funds to lend to companies to buy back their o
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- Base Metals Edge Lower as Doubts Swirl Over China's Stimulus [BNN Bloomberg (Canada)]BNN Bloomberg
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