Chinese Stocks Achieve Best Performance in Four Years, Rising Over 4%

Chinese stock markets saw strong gains by the close of trading on Tuesday, following an announcement from the central bank about a new package of monetary easing measures aimed at helping China reach its targeted growth rate of around 5%.

Content:

China
Gold
European Central Bank

China:

In addition to supporting the struggling real estate sector, which has faced ongoing crises recently, People’s Bank of China Governor Pan Gongsheng announced that the bank would cut the main interest rate by 20 basis points and reduce the reserve requirement ratio for banks by 50 basis points. It will also lower lending rates and mortgage loan rates. As a result, the real estate sector’s CSI 300 index rose by 1.69%, while the broader CSI index climbed by 4.33%.

Gold:

Gold is trading near its all-time highs.
It prices remained stable near $2,630 per ounce due to the geopolitical tensions in the Middle East. Additionally, market expectations that the U.S. Federal Reserve will continue cutting interest rates in the coming period have supported gold’s upward momentum, as investors turn to gold amid the anticipated weakness in the U.S. dollar.

European Central Bank:

ECB Member Hints at Possible Rate Cut in October
Madis Müller, European Central Bank member and Governor of the Bank of Estonia, stated on Tuesday that a rate cut during the October monetary policy meeting is possible, although it is still too early to make a clear decision. Müller added that it might be easier to make a decision in December. He also emphasized the need for a further slowdown in inflation within the services sector. Markets have been expecting the ECB to consider a rate cut in December, following a 60-basis-point cut in its last meeting.

Chinese Stocks Achieve Best Performance in Four Years, Rising Over 4%

Chinese Stocks Achieve Best Performance in Four Years, Rising Over 4%

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