The iShares China Large-Cap ETF (FXI) soared by 6% on Thursday, as investors cheered the prospects of China's economy receiving a boost from stimulus measures in the fourth quarter.
According to analysts, China's economic growth could see some improvement in the final three months of the year, aided by the government's efforts to stimulate the economy through fiscal and monetary policies. The anticipated support is raising hopes that China may achieve its 5% economic growth target for 2024.
The positive sentiment surrounding China's stimulus blitz has fueled a rally in Chinese equities, with the FXI ETF, which tracks large-cap Chinese stocks, being a major beneficiary. Investors are betting that the potential uptick in economic activity could translate into better corporate earnings and financial performance for Chinese companies.
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