{"id":108717,"date":"2024-09-30T13:02:50","date_gmt":"2024-09-30T06:02:50","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=108717"},"modified":"2024-09-30T13:02:50","modified_gmt":"2024-09-30T06:02:50","slug":"chinese-stocks-soar-most-since-2015-heading-for-bull-market","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=108717","title":{"rendered":"Chinese Stocks Soar Most Since 2015, Heading for Bull Market"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p>(Bloomberg) &#8212; Chinese stocks extended one of their most remarkable turnarounds in history, soaring for a ninth straight day as government stimulus entices investors back to one of the most beaten-down markets worldwide.<\/p>\n<p>Most Read from Bloomberg<\/p>\n<p>The CSI 300 Index jumped as much as 7.7% on Monday, the most since 2015, as traders rushed to buy shares in the last session before a week-long holiday. The index, which lost more than 45% of its value from a 2021 high through mid-September, has since soared more than 20% \u2014 heading for a technical bull market. Its rally last week was the biggest since 2008.<\/p>\n<p>The extended gains came after three of China\u2019s largest cities relaxed rules for homebuyers, while the central bank also moved to lower mortgage rates. The latest measures were among the key elements of a sweeping stimulus package released Tuesday that also included interest rate cuts, freeing-up of cash for banks, as well as liquidity support for stocks.<\/p>\n<p>Having faced several false dawns in recent years, investors may be betting that the current momentum may be sustainable. In a sign of continued frenzy, combined turnover on both the Shanghai and Shenzhen bourses exceeded 1.6 trillion yuan ($228 billion) in the morning session, exceeding the total value of shares that changed hands Friday.<\/p>\n<p>\u201cThe pace of the turnaround is clearly reflective of how oversold the market was,\u201d said Charu Chanana, global markets strategist at Saxo Markets. \u201cThere is a clear belief that this time is different when it comes to authorities\u2019 support for the markets.\u201d<\/p>\n<p>Demand for Chinese stocks was so strong on Monday that several local brokerages experienced delays in processing orders on their trading applications, local media reported, with some securities firms also seeing a surge in requests to open new trading accounts.<\/p>\n<p>The latest hiccups came after a burst of trading led to glitches that overwhelmed the Shanghai stock exchange on Friday.<\/p>\n<p>\u201cEveryone has been such a bear and now they are all scrambling,\u201d said Andy Maynard, head of equities at China Renaissance Securities HK Ltd. \u201cLast week was the busiest times for China and Hong Kong I\u2019ve seen in a long while.\u201d<\/p>\n<p>Brokerages led the rally, with Citic Securities Co. hitting the 10% daily upside limit, given the perception that they are the most direct beneficiaries of rising stock transactions. Almost all of CSI 300\u2019s component stocks were in the green. A Bloomberg Intelligence gauge of Chinese property developers jumped as much as 14%.<\/p>\n<p><button class=\"link caas-button readmore-button-finance collapse-button readmore-button-class\" data-ylk=\"elm:readmore;slk:Story continues\"><span class=\"readmoreButtonText\">Story continues<\/span><\/button><\/p>\n<p>Renewed optimism about the world\u2019s second-largest stock market is also spreading globally, with hedge funds selling US technology stocks and piling into mining and materials firms. Meanwhile, iron ore spiked almost 11% as investors bet that China\u2019s efforts to ease property woes will improve demand from the world\u2019s top consumer of the steel-making ingredient.<\/p>\n<p>The country\u2019s ten-year sovereign bonds fell Monday, extending their biggest weekly drop in a decade, as investors pivoted toward risk assets on expectations a widespread stimulus blitz will revive economic growth.<\/p>\n<p>The Fear and Greed Indicator of the Shanghai Composite Index, which measures the buying and selling momentum for the stock benchmark popular among China\u2019s retail investors, rose to the highest since 2020 on Monday.<\/p>\n<p>\u201cI think the euphoric surge that we saw last week in China markets could turn into something more concrete and sustainable because there appears to be a complete policy shift that could finally address the cyclical headwinds of the past 3 years,\u201d said David Chao, a strategist at Invesco Asset Management. \u201cWhile there may still be debate over how these policy shifts are implemented and whether enough has been done, I think a new direction has been charted.\u201d<\/p>\n<p>&#8211;With assistance from Winnie Hsu and John Cheng.<\/p>\n<p>(Updates with chart, price moves and fresh quotes)<\/p>\n<p>Most Read from Bloomberg Businessweek<\/p>\n<p>\u00a92024 Bloomberg L.P.<\/p>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/finance.yahoo.com\/news\/chinese-stocks-soar-most-since-013553349.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Bloomberg) &#8212; Chinese stocks extended one of their most remarkable turnarounds in history, soaring for a ninth straight day as government stimulus entices investors back to one of the most &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=108717\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-108717","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/108717","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=108717"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/108717\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=108717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=108717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=108717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}