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China Said To Mull Stock Market Rescue Package Backed By $278 Bln
China Said To Mull Stock Market Rescue Package Backed By $278 Bln
— LiveSquawk (@LiveSquawk) January 23, 2024
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Bloomberg headline: China mulls stock market rescue package backed by $278 bn
China is considering a 1 trillion yuan fiscal stimulus and special bond stimulus to rescue the stock market. Bloomberg citing unnamed sources for the report: • China considering a 1 trillion yuan fiscal stimulus. • Also considering special bond stimulus. Mainland and Hong Kong stocks pop. CNY also a little higher. CNH too: chart
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China Weighs Stock Market Rescue Package Backed by $278 Billion
Chinese authorities are considering a package of measures to stabilize the slumping stock market, according to people familiar with the matter, after earlier attempts to restore investor confidence fell short and prompted Premier Li Qiang to call for “forceful” steps. Policymakers are seeking to mobilize about 2 trillion yuan ($278 billion), mainly from the offshore accounts of Chinese state-owned enterprises, as part of a stabilization fund to buy shares onshore through the Hong Kong exchange link, said the people, asking not to be identified discussing a private matter. They have also earmarked at least 300 ... (full story)