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Chinese stocks rallied after Beijing took stronger action to support the world’s second-largest economy, spurring hopes that the market’s rout may ease.

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Anna
October 25, 2023
1 minute read

Chinese stocks rallied after Beijing took stronger action to support the world’s second-largest economy, spurring hopes that the market’s rout may ease.
Japanese and Korean stocks linked to China’s consumer and manufacturing demand initially surged, pushing an Asian equity benchmark towards its best finish in a week, though gains later diminished.
China’s President Xi expressed willingness to manage differences with the US and jointly address global challenges.
Japanese Leading Indicator Change was revised to an actual 1.0%.
Japanese Chain Store Sales Year-over-Year (YoY) reported at 3%.
Australia’s Treasurer Chalmers noted that while inflation is moderating, it remains persistent in Australia.
Australian CPI figures:
- Month-over-Month (MoM) at 0.30%.
- Year-over-Year (YoY) at 5.4%, slightly above the forecast of 5.3%.
- Reserve Bank of Australia (RBA) Weighted Mean CPI YoY at 5.2%.
- Quarterly CPI at 1.2%, above the forecast of 1.1%.
US American Petroleum Institute (API) stock changes:
- Gasoline: -4.169M barrels.
- Distillate: -2.313M barrels.
- Cushing: +0.513M barrels.
- Crude Oil: -2.668M barrels, against a forecast of +1.55M barrels.

Latest news

Tuesday News

Stock market indices in the Asia-Pacific region traded at mixed levels during Tuesday’s trading session. Korea’s KOSPI gained nearly 1.01% intraday, while Japan’s Nikkei was down 0.11%. The Hang Seng is currently performing poorly, trading down 0.88%.

November 28, 2023

Monday News

Indices from Asia-Pacific launched new week’s trading lower. Nikkei drops 0.6%, S&P/ASX 200 is down 0.8%, Kospi and Nifty 50 decline 0.1% while indices from China trade 0.4-1.2% lower

November 27, 2023

Friday News

After a moderately positive European session on Thursday and no trading on Wall Street, Friday’s sentiment in the Asian session was mostly weak. The HangSeng lost more than 1.7%, and South Korea’s KOSPI lost 0.7%. Japan’s Topix and Nikkei gained within 0.5%.

November 24, 2023

Thursday News

US indices finished yesterday’s trading higher with S&P 500 gaining 0.41%, Dow Jones moving 0.53% higher and Nasdaq adding 0.46%. Small-cap Russell 2000 gained almost 0.6%

November 23, 2023

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