Chinese stocks extended gains after state media announced that China's top leaders had affirmed the government's latest efforts to support the economy.
Chinese stocks extended gains after state media announced that China 's top leaders had affirmed the government's latest efforts to support the economy.
Mainland China's CSI 300 extended a five-day winning streak, hitting its highest levels in almost two months after Beijing rolled out a slate of economic stimulus measures on Tuesday. South Korea's Kospi jumped 1.9%, powered by gains in chip maker SK Hynix, which announced it has begun mass production of the world's first 12-layer HBM3E chip, used in AI memory applications.Chinese President Xi Jinping led a meeting earlier Thursday of the Politburo, the second-highest circle of power in the ruling Chinese Communist Party, state media said.
The readout said leaders called for strengthening fiscal and monetary policy support. They also called for "halting" the decline of the real estate market and spurring its "stable recovery," according to a CNBC translation of the Chinese text.st levels in nearly two months after Beijing rolled out a slate of economic stimulus measures on Tuesday. The index was 1.58% higher.
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