China stimulus hopes help boost Asian markets, Fed in focus
China's top leaders have signalled a fresh push to get post-Covid recovery back on track, particularly for the troubled property sector, which accounts for a major part of the world’s number-two economy. – EPA pic, July 25, 2023.
HONG Kong led a surge across most Asian markets today after Chinese leaders pledged fresh measures to boost the nation’s stuttering economy, building on optimism that central banks were nearing the end of their rate-hiking cycle. With data in recent months showing growth stuttering and business activity slowing, Beijing has come under pressure to provide much-needed support, particularly for the vast property sector.
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