Stock Track | Tiger Brokers Soars on China's Sweeping Stimulus Package

Stock Track09-24

Tiger Brokers, a leading online brokerage firm in China, saw its stock price surge by 9.83% on September 24, 2024, driven by a broad rally in Chinese financial stocks. The rally was sparked by the People's Bank of China's announcement of a sweeping stimulus package aimed at countering the waning economic outlook and restoring market confidence.

The Chinese central bank unveiled a series of measures, including a reduction in the reserve requirement ratio to its lowest level since at least 2020, as well as a cut in the main short-term interest rate. These moves are expected to provide much-needed liquidity to the financial system and support lending activities.

Additionally, the stimulus package targeted the beleaguered property market, with measures to lower overall mortgage costs and ease rules for second-home purchases. This move is expected to benefit financial institutions like Tiger Brokers, which provide services to investors and homebuyers in the real estate market.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • PC3060
    11-14
    PC3060
    Great article, would you like to share it?
  • 3nn
    10-01
    3nn
    lol we all know China....can or cannot trust :D
  • SimaWuqin
    09-27
    SimaWuqin
    Financial Institutions!!! 
  • LadyC
    09-24
    LadyC
    See some light finally [Miser]  
Leave a comment
4
4