Strategists Divided on Market Outlook After China's Bold Moves [BNN Bloomberg (Canada)]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
NASDAQ:AMEX Investor Relations:
coli.com.hk/en/ir
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Source: BNN Bloomberg
The People's Bank of China and other regulators made a series of bolder-than-expected announcements on Tuesday, pledging to cut the reserve requirement ratio, lower existing mortgage costs and let funds borrow from the central bank to buy shares, among other things. Here is a selection of comments from analysts: Oversea-Chinese Banking Corp (Tommy Xie, head of Asia macro research) “What stands out this time is the PBoC's introduction of new policy tools to support the equity market, which could have broader implications” “This move is noteworthy because if these tools succeed in rebooting investor sentiment and reviving animal spirits, it could have a positive medium-term impact on the economy. An increase in equity market activity and confidence could stimulate growth, eventually leading to higher bond yields and a stronger yuan as the economy strengthens” Maybank Securities Pte. (Wong Kok Hoong, head of institutional equities) “It is not the bazooka that those looking a
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