Stock Track | Tencent Music Soars Nearly 6% as China Signals Looser Monetary Policy to Boost Growth

Stock Track12-09

Tencent Music Entertainment Group's stock surged by 5.98% on Monday, propelled by China's announcement of adopting an "appropriately loose" monetary policy in 2025 to support economic growth.

The news boosted sentiment around Chinese stocks, as a looser monetary stance is expected to benefit companies operating in the world's second-largest economy. Tencent Music, being a major player in China's tech and entertainment sectors, is poised to capitalize on the government's efforts to stimulate growth.

China's Politburo signaled a shift towards a more proactive fiscal policy and "unconventional" counter-cyclical measures, marking the first easing of monetary policy since 2010. The move aims to boost consumption, expand domestic demand, and drive innovation in the country.

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