Stock Track | Xiaomi Shares Surge 5% as China Data, Policy Moves Lift Sentiment

Stock Track

Oct 18, 2024

Xiaomi Corp's shares soared 5.19% on Thursday, riding a broad rally in Hong Kong stocks fueled by encouraging economic data from China and supportive monetary policy moves by the country's central bank.

China's economy expanded 4.6% year-over-year in the third quarter, slightly exceeding expectations, while industrial output, retail sales, and fixed investment for the January-September period also surpassed forecasts. These positive data points boosted investor confidence in the Chinese economy's resilience.

Adding to the optimism, the People's Bank of China (PBOC) unveiled a series of measures aimed at bolstering liquidity and supporting growth. The central bank plans to cut the reserve requirement ratio further by 25-50 basis points before the end of 2024 and reduce the loan prime rate by 20-25 basis points on October 21. It also launched a special re-lending program with an initial quota of 300 billion yuan at an interest rate of 1.75%.

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It also launched a special re-lending program with an initial quota of 300 billion yuan at an interest rate of 1.75%.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"01810","symbol_name":"小米集团-W","start_time":0,"source_url":"","article_id":"1115929772","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1115929772","pubTimestamp":1729228978,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Xiaomi Corp's shares soared 5.19% on Thursday, riding a broad rally in Hong Kong stocks fueled by encouraging economic data from China and supportive monetary policy moves by the country's central bank.China's economy expanded 4.6% year-over-year in the third quarter, slightly exceeding expectations, while industrial output, retail sales, and fixed investment for the January-September period also surpassed forecasts. 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