CX Daily: China Rolls Out Fresh Stimulus to Boost Sluggish Economy

Stimulus /

China rolls out fresh stimulus to boost sluggish economy

China announced a slew of stimulus measures Tuesday, including lowering rates on existing home mortgages and cutting a key policy rate, as it steps up support for an economy hamstrung by a prolonged property sector slump and lackluster consumer confidence.

Stock markets surged in response to the news, with the benchmark Shanghai Composite Index closing up 4.15%, marking its largest jump in over four years. The Shenzhen Component Index and Hong Kong’s Hang Seng Index also gained more than 4%.