Stock Track | Trip.com Group Soars Nearly 10% as China Unveils Stimulus Plans to Spur Growth

Stock Track12-09

Shares of Trip.com Group Limited (TCOM), a leading online travel agency in China, surged 9.64% in the pre-market trading session on Monday, outperforming the broader market. The sharp rise came after China announced plans to adopt a more accommodative monetary policy and implement proactive fiscal measures to support economic growth.

According to state media reports, the Chinese Politburo meeting outlined plans for an "appropriately loose" monetary policy in 2024, marking the first shift towards monetary easing since 2010. The move signals a departure from the "prudent" stance maintained for years, as authorities aim to boost consumer spending and domestic demand.

In addition to the monetary policy shift, China also pledged to implement a more proactive fiscal policy and take "unconventional" counter-cyclical adjustments. These measures are expected to provide further impetus to the country's economic recovery and support consumer-focused sectors like travel and tourism.

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