Chinese Stocks Rise as Economic Stimulus Package Begins

Chinese stocks saw an uptick during Tuesday’s trading after the People’s Bank of China initiated its first steps to stimulate the stock market, giving a positive boost to investor confidence.
This rise comes as investors absorbed the new measures taken by Beijing to support the economy.

Contents:

China
Fitch
Nvidia

China:

The CSI 300 index rose by 0.57%, adding 22 points to reach 3,957,
while the Shanghai Composite Index increased by 0.54% or 17 points to reach 3,285.
Meanwhile, the Shenzhen Composite Index climbed by 0.86%, reaching 1,953.

This support came after the People’s Bank of China announced its first stimulus operation under a plan aimed at boosting stock market performance. Through this operation, assets worth 50 billion yuan (equivalent to 7 billion USD) were exchanged with several brokerage firms, investment funds, and insurance companies.

Fitch:

Fitch Ratings expects the European Central Bank (ECB) to accelerate the pace of interest rate cuts.

On Monday, Fitch Ratings issued a memo predicting that the ECB will reduce interest rates more quickly than previously expected.
Despite this acceleration, the total expected cuts will remain at 200 basis points by the end of 2025.

In the memo, the agency noted that the ECB had already cut the interest rate by 25 basis points during its Monetary Policy Committee meeting held on October 17, bringing the main rate to 3.25%.

Fitch expects the bank to continue cutting rates by 25 basis points on four occasions over the next two years,
in March, June, September, and December, with a total of 100 basis points in cuts expected.

This latest rate cut is part of the ECB’s efforts to support economic activity, especially as inflation growth has slowed recently.

Nvidia:

Nvidia’s market value surpasses $3 trillion.

Nvidia’s stock closed Monday’s session at a new record high,
pushing the company’s market value past $3.5 trillion for the first time in its history.
The stock rose 4.15% to close at $143.71, with additional gains of 0.40% in after-hours trading, bringing it to $144.30.

With this rise, Nvidia’s market value reached $3.525 trillion, making it the second global company—after Apple—to end a trading session with a market capitalization above $3.5 trillion.
The company only needed its stock to hit $142.682 to achieve this milestone,
but it exceeded this level despite broader market challenges.

Nvidia is now ranked second globally in terms of market value, behind Apple,
which first reached this level in July and currently has a valuation of $3.595 trillion.

Chinese Stocks Rise as Economic Stimulus Package Begins

Chinese Stocks Rise as Economic Stimulus Package Begins

Related Topics