China stimulus revives hopes for economy, CSI 300 Index sees best week since 2008 [Seeking Alpha]
ING Group, N.V. (ING)
US:NYSE Investor Relations:
ing.com/investor-relations.htm
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Source: Seeking Alpha
The People's Bank of China lowered the seven-day reverse repurchase rate to 1.50% from 1.70% and the required reserve ratio for major banks to 9.5% from 10.0%. The blue-chip CSI 300 Index ( SHSZ300 ), which ended 4.5% higher on Friday, gained 15.7% this week in its biggest weekly gain since 2008. The broader Shanghai Composite ( ) closed up 2.9% and the Hang Seng Index ( rose 3.2% on Friday. The new measures follow a huddle of China's Politburo - comprising 24 top Communist Party officials - that ended Thursday, where leaders pledged action to ensure that annual economic targets are met and the real estate market stabilizes. "Overall, we feel today's measures are a step in the right direction, especially as multiple measures have been announced together rather than spacing out individual piecemeal measures to a more limited effect," said ING. "We continue to believe that there is still room for further easing in the months ahead. If we see a large fiscal policy push as well,
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Sec Filings
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- 9/20/24 - Form 6-K
- 9/17/24 - Form 6-K
- ING's page on the SEC website