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Hopeless big nation. Market easily affected by US

Chinese Stocks Bounce Back as Stimulus Hopes Offset Trump Risks

Chinese shares rallied, reversing early losses as robust exports and hopes for more growth stimulus outweighed concerns over trade frictions posed by a second Donald Trump presidency.

Chinese Stocks Bounce Back as Stimulus Hopes Offset Trump Risks

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Market easily affected by US","highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/368381821665632","repostId":2481925805,"repostType":2,"repost":{"id":"2481925805","kind":"highlight","pubTimestamp":1730973531,"share":"https://www.laohu8.com/m/news/2481925805?lang=&edition=full","pubTime":"2024-11-07 17:58","market":"us","language":"en","title":"Chinese Stocks Bounce Back as Stimulus Hopes Offset Trump Risks","url":"https://stock-news.laohu8.com/highlight/detail?id=2481925805","media":"Bloomberg","summary":"Chinese shares rallied, reversing early losses as robust exports and hopes for more growth stimulus outweighed concerns over trade frictions posed by a second Donald Trump presidency.","content":"<html><head></head><body><ul style=\"\"><li><p>Both CSI and HSCEI extend gains in the afternoon session</p></li><li><p>Investors weigh trade tensions against Beijing’s stimulus</p></li></ul><p>Chinese shares rebounded strongly from Wednesday’s losses as robust exports and hopes for more stimulus outweighed concerns about tariffs spurred by the US election outcome.</p><p>The onshore CSI 300 Index climbed 3% to finish at its highest level in about a month, despite a 1% loss after the opening bell. It fell 0.5% in the previous session. A key gauge of Chinese firms listed in Hong Kong closed 2.5% higher.</p><p>China’s currency also flipped to gains, even after the country’s central bank slashed its daily reference rate to a level unseen since late 2023. The onshore yuan rose as much as 0.3% versus the dollar in the afternoon, reversing a 0.2% decline as state banks sold the greenback.</p><p>Optimism is growing that authorities may announce stronger stimulus measures after a key legislature meeting concludes on Friday, which would help cushion any blow from potential tariffs threatened by President-elect Donald Trump. Sentiment also got a boost as data showed China’s export growth surged in October to the fastest since July 2022, exceeding economists’ forecasts.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/42c86aab6df5a85ec59012e3ed667f8a\" tg-width=\"1200\" tg-height=\"675\"/></p><p>“The logic is Trump tariff will trigger bigger stimulus,” said Siguo Chen, portfolio manager at RBC BlueBay Asset Management. “I think actual support will come later than expected. No point using up all the bullets before Trump gets in office.”</p><p>Trump’s return to power is seen complicating Beijing’s efforts to revive the economy and lift market sentiment through a series of stimulus measures that began late September. Therefore, the ongoing legislature meeting has become all the more crucial for investors.</p><p>Showing a sense of urgency, Chinese President Xi Jinping on Wednesday repeated a call for officials to step up efforts in the remaining two months of the year, so as to meet the nation’s annual economic targets.</p><p>In another sign of policy support, Chinese regulators told the nation’s banks to lower the rates they pay on deposits from other financial institutions to free up funds to boost the economy, Bloomberg News reported, citing people familiar with the matter.</p><p>“Cutting interbank deposit rates would not bring too much impact on the economy, but PBOC continues to give a signal that they will maintain a supportive monetary policy stance,” said Jason Chan, senior investment strategist at Bank of East Asia.</p></body></html>","source":"bnn_bloomberg_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chinese Stocks Bounce Back as Stimulus Hopes Offset Trump Risks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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It fell 0.5% in the previous session. A key gauge of Chinese firms listed in Hong Kong closed 2.5% higher.China’s currency also flipped to gains, even after the country’s central bank slashed its daily reference rate to a level unseen since late 2023. The onshore yuan rose as much as 0.3% versus the dollar in the afternoon, reversing a 0.2% decline as state banks sold the greenback.Optimism is growing that authorities may announce stronger stimulus measures after a key legislature meeting concludes on Friday, which would help cushion any blow from potential tariffs threatened by President-elect Donald Trump. Sentiment also got a boost as data showed China’s export growth surged in October to the fastest since July 2022, exceeding economists’ forecasts.“The logic is Trump tariff will trigger bigger stimulus,” said Siguo Chen, portfolio manager at RBC BlueBay Asset Management. “I think actual support will come later than expected. No point using up all the bullets before Trump gets in office.”Trump’s return to power is seen complicating Beijing’s efforts to revive the economy and lift market sentiment through a series of stimulus measures that began late September. Therefore, the ongoing legislature meeting has become all the more crucial for investors.Showing a sense of urgency, Chinese President Xi Jinping on Wednesday repeated a call for officials to step up efforts in the remaining two months of the year, so as to meet the nation’s annual economic targets.In another sign of policy support, Chinese regulators told the nation’s banks to lower the rates they pay on deposits from other financial institutions to free up funds to boost the economy, Bloomberg News reported, citing people familiar with the matter.“Cutting interbank deposit rates would not bring too much impact on the economy, but PBOC continues to give a signal that they will maintain a supportive monetary policy stance,” said Jason Chan, senior investment strategist at Bank of East Asia.","news_type":1},"isVote":1,"tweetType":1,"viewCount":139,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":42,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}