China Market Update: “First, Support The Expansion Of Domestic Demand” [Forbes]
TENCENT HLDGS UNSP/ADR (TCEHY)
NASDAQ:AMEX Investor Relations:
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Source: Forbes
Australia and the Philippines were closed for Christmas, while Hong Kong and Singapore had half days. Reuters reported that China will issue RMB 3 trillion of special purpose bonds versus expectations of RMB 1 trillion. The article further states, “The proceeds will be targeted at boosting consumption via subsidy programs…” The news from “sources” finally gives foreign investors what they want: consumption stimulus! It is important to note that the article was published after Hong Kong closed! What drove the Hang Seng to close above 20,000, led by growth stocks on strong volumes for a half day? Mainland media had significant coverage of the National Financial Work Conference's (NFWC) conclusion and subsequent Ministry of Finance (MoF) release stating that “more proactive fiscal policies should be implemented.” The positive release outlined six areas of focus for 2025, though the first one and the fact it is the first one are key. I am doing the bold and underline, though, on the Mo
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