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News in English (USA) / 30.09.2024 / 10:00

Chinese Stock Market Experiences Major Surge on Stimulus Hopes

Chinese stocks have soared dramatically, marking the largest daily gains since 2008, fueled by hopes for government stimulus. The Shanghai Composite Index rose by 8.06% on Monday, pushing the bourse to a four-year high, as traders welcomed several measures aimed at revitalizing the economy. This bullish sentiment has led to a surge in trading volumes, with daily transactions surpassing USD 142.5 billion in Shanghai and Shenzhen. Investors are rushing to buy stocks, fearing they might miss out on this exceptional rally, which comes amid expectations for continued fiscal support. Analysts suggest that while the current rally is encouraging, sustained fiscal policy will be crucial for maintaining this upward momentum. Overall, the recent developments signal a significant turning point for China's stock market and its recovery trajectory.
Yahoo Finance, MarketWatch, CNBC, MSN, China Daily, U.S News & World Report Money, TradingView, FXStreet, Yicai Global, GuruFocus.com