BUZZ-China ADRs surge on central bank measures to boost market

Reuters
2024-10-18

** U.S.-listed shares of Chinese companies surge in premarket trading, after China's central bank on Friday kicked off funding schemes and urged swift adoption of policies to support capital markets

** Central bank launched two schemes to initially pump as much as 800 billion yuan ($112 billion) into the stock market through newly created monetary policy tools, boosting investor sentiment

** Bank also spelt out operational details of the swap and relending schemes first announced in late September

** Following the bank's announcement, the benchmark Shanghai Composite Index closed up 2.9%, while the blue chip CSI300 and Hang Seng both ended 3.6% higher

** E-commerce firms Alibaba Group Holding up 3.2%; JD.com and PDD Holdings surge 5.1% each

** EV firms Li Auto climbs 6.6%, Nio up 5.6% and Xpeng advances 5.9%

** Gaming stock Bilibili climbs 7.8%, search engine giant Baidu surges 4.3%, online video platform iQIYI

rises 6%

** Music streaming company Tencent Music Entertainment Group

adds 5.1%, social media platform Weibo up 4.8%

** Chinese ETFs such as iShares MSCI China ETF advances 5%, KraneShares CSI China ETF up 6.2% and iShares China Large-Cap ETF climbs 4.8%

(Reporting by Sukriti Gupta in Bengaluru)

((Sukriti.Gupta@thomsonreuters.com;))

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

熱議股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10