Chinese markets clocked their best week in almost 16 years as the mainland’s CSI 300 rallied 15.7% this week, buoyed by several economic stimulus measures by the central bank.
The last time the index saw a bigger weekly gain was the week ending Nov. 14, 2008. Hong Kong’s Hang Seng index recorded a weekly gain of 12.75%, making it the index’s best week since February 1998, according to FactSet data. On Friday, the CSI 300 climbed 4.47% to close at 3,703.68, its highest level in about a year, while the HSI rose 3.32% and closed at 20,586.94, its highest since February 2023. The rally comes as the People’s Bank of China cut its 7-day reverse repurchase rate to 1.
Other Asia-Pacific markets also mostly rose Friday, with investors also assessing September inflation numbers from Japan’s capital city of Tokyo, which is widely considered a leading indicator of nationwide trends. Tokyo’s headline inflation rate eased to 2.2%, down from August’s 2.6%. The core inflation rate — which strips out prices of fresh food — in the capital city came in at 2%, in line with expectations from economists polled by Reuters and down from 2.4% in August.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China stocks set for best week since 2008; Japan leadership contest in focusChina stocks set for best week since 2008; Japan leadership contest in focus
Read more »
Former Lakers Center Would Take 2008 Olympics Team Over 2024 VersionDoes he have a point?
Read more »
Dwight Howard Claims 2008 Redeem Team Would Beat 2024 Team USA in 7-Game SeriesThe three-time Defensive Player of the Year remains very confident in his former Olympic club's ability to take down the latest Team USA vintage.
Read more »
Gov’t Data: Salaries Have Been Flat for STEM Workers Since 2008Source of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »
Man arrested after being charged with murder in separate incidents in 2007 and 2008, records showThe DA's office told ABC13 on Friday that Juan Gonzalez Jr. is scheduled for a court date in October, where prosecutors will ask a judge that he be held without bail.
Read more »
Authorities track 2008 San Jose cold-case sexual assault suspect to IndianaAuthorities in the South Bay on Tuesday announced the arrest of a suspect living in Indiana in connection with a brutal San Jose home invasion sexual assault that happened 15 years ago.
Read more »