Stock Track | Tencent Music Soars 5% in Pre-Market as China Signals Looser Monetary Policy to Boost Growth

Stock Track12-09

Tencent Music Entertainment Group's stock surged over 5% in pre-market trading 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 and domestic demand.

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, which is expected to create a favorable environment for businesses like Tencent Music to thrive.

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