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☆ A china stock poised for a breakout amid this stimulus rally, according to the charts
▼ + stars: | 2024-09-26 | by ( ) www.cnbc.com time to read: +4 min

The Chinese central bank unrolled the most significant stimulus program since the COVID-19 pandemic and Chinese equities are starting to show signs that the long history of underperformance relative to western equities could possibly be on borrowed time. The name that has already demonstrated leadership that we want to focus on should this move into Chinese names continues is Tencent Holdings (TCEHY) . Before we get further into the company specifics it's important to reiterate that Chinese equities have under-performed U.S. equities since 2007. The goal of the program according to Chinese officials is to return the economy to a 5% growth rate. Turning to the focus company Tencent Holdings (TCHEY) is a multinational technology conglomerate listed on the Hong Kong exchange since 2004.

Persons: TCHEY, Todd Gordon, Gordon Organizations: Tencent Holdings, People's Bank of China, Hong, Inside Edge, CNBC, NBC UNIVERSAL Locations: China, Hong Kong

☆ China's surprise stimulus could be a red flag, so investors should approach the nation's long-awaited rally with caution
▼ + stars: | 2024-09-26 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

AdvertisementLorraine Tan, Morningstar's director of equity research for Asia, also thinks monetary stimulus won't be sufficient. History says their skepticism is warranted, as China's past stimulus efforts have often failed to lead to sustainable gains. Even if this surge holds up, it won't necessarily spark a self-fulfilling prophecy that provides a lasting boost for China's economy. But others like Tan from Morningstar believe this bad news is reflected in Chinese stocks' cheap valuations. The team at UBS Global Wealth Management is also cautiously optimistic about Chinese stocks after this news.

Persons: —, they're, Betty Wang, Marcelli, Lorraine Tan, Tan, Brian Mulberry, Mulberry, Wang, China isn't, Jeff Kleintop, Charles Schwab, Donald Trump, Rory Green, Xi Jinping, Biden, Trump, That's, Kleintop, Morningstar, she'd Organizations: Service, Business, People's Bank of, Oxford Economics, UBS Global Wealth Management, Zacks Investment Management, Federal Reserve, BI Locations: China, People's Bank of China, Asia, Central, Republic

☆ These China stocks are favored by analysts no matter how the central bank stimulus pans out
▼ + stars: | 2024-09-26 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Stocks in China rose in response, with the CSI 300 Index climbing 4.3% Tuesday, its best day since July 2020. But whether or not the latest policy steps succeed, CNBC Pro screened for China stocks that analysts praise regardless of the pace of economic growth at home. About three quarters of analysts covering PDD rate it a buy, and the stock could climb roughly 43% based on analysts' consensus price target. On Tuesday, after the announcement of the latest policies to revive the flagging China economy, PDD shares in the U.S. jumped more than 11%. Other names on the list of favored China stocks included online learning and tutoring provider TAL Education Group and digital shipping platform Full Truck Alliance .

Persons: Hong, Morgan Stanley, Terence Flynn, Flynn, CoreValues, Ben Harburg, CNBC's, Harburg, Biden Organizations: People's Bank of China, CSI, CNBC Pro, China ETF, Therapeutics, YE25, U.S, TAL Education Group, Alliance Locations: China, Ph3, U.S

☆ 'Big Short' investor Michael Burry bet half of his portfolio on Chinese stocks. It's finally starting to pay off.
▼ + stars: | 2024-09-26 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Famed "Big Short" investor Michael Burry is benefiting from the recent surge in Chinese stocks. Burry began aggressively buying Chinese stocks in the fourth quarter of 2022, and it seems to finally be paying off. AdvertisementBurry also has 12% of his portfolio invested in Baidu, and another 12% of his portfolio invested in JD.com. Billionaire investor David Tepper said on Thursday that it's a buy "everything" moment for Chinese stocks. Tepper believes there's more upside to be had in Chinese stocks due to their depressed valuations.

Persons: Michael Burry, —, Burry, Alibaba, David Tepper, Tepper, there's Organizations: Scion, Management, Service, Scion Asset Management, Baidu, People's Bank of China, Alibaba, CNBC Locations: JD.com, China, HedgeFollow, China's

☆ Beijing is no longer hiding its panic about the state of its economy
▼ + stars: | 2024-09-25 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

The measures were significant because Beijing has been holding back on a "bazooka" stimulus even though China's economy has been struggling to stage a convincing recovery post-pandemic. To be sure, this is not the first attempt China has made at boosting its economy in the past few years. However, Beijing's display of resolve also triggered market speculation that it's alarmed and panicked over the state of its economy, which is facing multiple challenges. Related storiesNotably, even on the heels of China's big stimulus announcement, most analysts also think Beijing still needs to do more to boost China's economy, particularly in boosting gloomy domestic demand. "Onshore stocks are a policy- and momentum-driven market, and policy signals don't get much clearer than this," they wrote.

Persons: —, Pan Gongsheng, Andrew Rocco, Rocco didn't, Pan, Freya Beamish, Rory Green, Anthony Sassine, Sassine, Rocco, macroeconomy, China's CSI300 Organizations: Service, People's Bank of China, Business, Lombard, Investors, Zacks Investment Research, Global Data.TS, Yahoo Finance, Data.TS Locations: China, Beijing, Swiss, London

☆ Benard Arnault added $6 billion to his net worth in a day after China's stimulus sparked a rally in luxury stocks
▼ + stars: | 2024-09-25 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

China's new stimulus measures helped boost Bernard Arnault's net worth by $6.2 billion in a day. LVMH shares surged 4% on the news. Bernard Arnault, the chairman of LVMH, saw his net worth soar $6.2 billion on Tuesday, according to data from Bloomberg, as shares of the luxury goods maker surged 4%. At one point in March, Arnault was the richest person in the world, but since the start of the year, he slipped in the net worth rankings as LVMH stock struggled and a huge mega-cap tech rally boosted the net worth of tech CEOs. AdvertisementArnault's net worth now stands at $183 billion, just ahead of Oracle cofounder Larry Ellison's $179 billion and behind the $200+ billion fortunes of Mark Zuckerberg, Jeff Bezos, and Elon Musk.

Persons: Bernard Arnault's, —, Bernard Arnault, Arnault, Louis Vuitton, LVMH, Pan Gongsheng, Larry Ellison's, Mark Zuckerberg, Jeff Bezos, Elon Musk Organizations: Consumers, Service, Bloomberg, Dior, Tiffany, TAG Heuer, People's Bank of China, Oracle Locations: China

☆ China central bank cuts medium-term loan rate
▼ + stars: | 2024-09-25 | by ( ) www.cnbc.com time to read: +1 min

China's central bank lowered the cost of its medium-term loans to banks on Wednesday in a move consistent with broad policy easing measures announced a day earlier to shore up a flailing economy. China's central bank lowered the cost of its medium-term loans to banks on Wednesday in a move consistent with broad policy easing measures announced a day earlier to shore up a flailing economy. The People's Bank of China said it cut the rate on 300 billion yuan ($42.66 billion) worth of one-year medium-term lending facility loans to some financial institutions to 2.00% from 2.30%. The bid rates in Wednesday's operation ranged from 1.90% to 2.30%, and the total balance of MLF loans now stands at 6.878 trillion yuan, the central bank said in an online statement. A batch of 591 billion yuan worth of MLF loans expired this month.

Organizations: People's Bank of Locations: People's Bank of China, Beijing

☆ PBOC's mortgage cut could 'really save' China's real estate, says UOB
▼ + stars: | 2024-09-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPBOC's mortgage rate cut is a measure that could 'really save' China's real estate, says UOBQi Wang, CIO, wealth management at UOB Kay Hian, discusses "two concerns" he has about the Chinese market and the recent slate of measures from the People's Bank of China.

Persons: Qi Wang, UOB Kay Hian Organizations: People's Bank of China

☆ The Chinese yuan surged to a 16-month high, but Beijing may not be happy about it
▼ + stars: | 2024-09-25 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

China's stimulus package has boosted market sentiment and pushed the Chinese yuan to a 16-month high. But a strong yuan could hurt exports, a key pillar of China's economy, amid weak domestic demand. AdvertisementChina's massive stimulus package for its battered economy has boosted market sentiment and injected confidence into the Chinese yuan. This means $1 could buy fewer Chinese yuan. A strong yuan is bad for exportsEven though a strong yuan signals confidence in China's economy, analysts aren't sure the gains will hold.

Persons: —, Pan Gongsheng, Vishnu, Varathan, Larry Hu, Hu, aren't, Pan, Macquarie's Hu Organizations: People's Bank of China, Service, US Federal Reserve, Macquarie Group, Lombard, Bloomberg Locations: Asia, Japan, China, Beijing, Swiss, China's

☆ China needs more than rate cuts to boost economic growth
▼ + stars: | 2024-09-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Cfoto | Future Publishing | Getty ImagesBEIJING — China's slowing economy needs more than interest rate cuts to boost growth, analysts said. He expects Beijing will likely ramp up fiscal stimulus due to weak growth, despite reluctance so far. "The market is forming a medium to long-term expectation on the U.S. growth rate, the inflation rate. As for Chinese government bonds, Ding said the firm has a "neutral" view and expects the Chinese yields to remain relatively low. He pointed out that monetary easing still requires fiscal stimulus "to achieve the effect of expanding credit and transmitting money to the real economy."

Persons: Larry Hu, That's, Edmund Goh, Yifei Ding, Ding, CF40, Pan Gongsheng, Haizhong Chang, Chang Organizations: China Resources, Getty, BEIJING, People's Bank of China, Macquarie, U.S, of Finance, PBOC, Ministry of Finance, Fitch Locations: China, Nanjing, Jiangsu province, abrdn, Beijing, U.S, Invesco

☆ Chinese yuan hits strongest level against the dollar in over 16 months as investors assess PBOC stimulus
▼ + stars: | 2024-09-25 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

The Chinese yuan has weakened sharply against the U.S. dollar in the last several weeks as the greenback strengthens and investors worry about China's economic growth. China's yuan hit its strongest level in over 16 months on Wednesday after Beijing unveiled a slate of stimulus measures to shore up the slowing economy on Tuesday. The Chinese offshore yuan strengthened briefly to 6.9946 per dollar, the strongest since May 2023. China's onshore yuan is currently trading at 7.0319 against the greenback, also holding at the strongest levels since last May. China bonds rallied after the PBOC announcement with 10-year and 30-year yields hitting record lows.

Persons: Ben Emons, Edmund Goh, Zerlina Zeng, CreditSights, Pan Gongsheng, Emons, Hong, — CNBC's Evelyn Cheng Organizations: U.S, Beijing, greenback, Fed Watch, BNP, U.S ., Asia Credit, People's Bank of China Gov, CSI Locations: China, abrdn, Hong Kong, London, Singapore, New York

☆ CNBC Daily Open: Some caution might be good for markets
▼ + stars: | 2024-09-25 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. While analysts think this move may mark the end of China's deflationary streak, many think monetary policy is not enough. How much will oil demand grow? The International Energy Agency thinks oil demand will level off at 106 million barrels per day by the end of the decade.

Persons: Larry Hu, Consumer's, September's, Dow Organizations: CNBC, Dow Jones, U.S ., People's Bank of China, Macquarie, International Energy Agency, U.S, U.S . Federal, Barclays, Citi Locations: Corte Madera, Corte Madera , California, Asia, Pacific, China, U.S .

☆ Asia-Pacific markets climb with China's central bank in focus; S&P and Dow set fresh records
▼ + stars: | 2024-09-24 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets climbed on Tuesday, tracking gains on Wall Street after the S&P 500 and Dow Jones Industrial Average touched new closing highs in Monday's trading session. The broad market index added 0.28% to end at 5,718.57, while the Dow Jones Industrial Average gained 61.29 points, or 0.15%, to close at 42,124.65. The briefing is set to begin before Chinese markets open at 9:30 a.m. Currently, futures for the mainland Chinese CSI 300 are at 3,205.6, slightly lower than its last close of 3,212.76. As such, CBA expects a slightly less hawkish statement, but does not see a material shift in language or tone.

Persons: Pan Gongsheng Organizations: Dow Jones, Dow Jones Industrial, Traders, People's Bank of China, PBOC, CSI, Reuters, Commonwealth Bank of Australia, CBA Locations: Asia, Pacific, Australia's

☆ China's auto stocks rise unfazed by U.S. proposal to ban Chinese car parts
▼ + stars: | 2024-09-24 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

Rows of new energy vehicles are parked at Changan Automobile's vehicle distribution center in Chongqing, China, on January 14, 2024. Shares of Chinese automakers climbed Tuesday, shrugging off a U.S. government proposal to ban certain types of vehicles equipped with car parts from China and Russia, amid a broad rally after Beijing announced policy easing. The Joe Biden administration has cited national security risks for its latest measure aimed at curbing Chinese auto industry's influence and reach in the U.S."Cars today have cameras, microphones, GPS tracking, and other technologies connected to the internet. U.S. proposal to ban Chinese auto parts may not have a direct negative impact on the Chinese auto industry as the sales volume of Chinese auto exports to the U.S. markets are "very small" and limited, Wu said. Additionally, Chinese parts companies have already set up factories in South America, which can be exported directly to U.S. markets under the U.S.-Mexico Tariff Agreement, he added.

Persons: shrugging, Li, Nio, Leapmotor, Joe Biden, Gina Raimondo, Ivan Wu, Pan Gongsheng, Wu Organizations: Beijing, Guotai, People's Bank of China Gov, U.S, China Automobile Dealers Association Locations: Chongqing, China, U.S, Russia, Hong Kong, South America, Mexico

☆ China bond yields hit record low after PBOC signals more easing
▼ + stars: | 2024-09-24 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

A man walks past the People's Bank of China (PBOC) building on July 20, 2023 in Beijing, China. (Photo by Jiang Qiming/China News Service/VCG via Getty ImagesChina bond yields fell to a record low after the People's Bank of China on Tuesday announced that it would cut the reserve requirement ratio for banks. Yield on China's 10-year government bonds fell 3.75 basis points to 2.043%, data from LSEG showed, marking a record low. 30-year bond yields also dropped to a record low of 2.168%. In recent months, insurance companies and institutional investors have flocked to China's bond market, partly due to limited investment opportunities available.

Persons: Jiang Qiming, Pan Gongsheng, Pan Organizations: People's Bank of China, China News Service, Getty Images, PBOC, U.S . Federal Reserve Locations: Beijing, China, Getty Images China, LSEG

☆ China just released aggressive measures to boost its economy — but some analysts say it's still not enough
▼ + stars: | 2024-09-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

"Today's policy measures are bold by historical standards," Betty Wang, the lead economist at Oxford Economics, wrote in a note on Tuesday. Stimulus measures don't address consumptionDespite the fanfare, analysts are divided over whether the moves that ease monetary policy constitute a massive "bazooka" stimulus. AdvertisementMost say the monetary easing policies don't address the lack of confidence contributing to depressed consumer spending. China has pulled out multiple support measures this year to shore up its economy and stock markets, but any kneejerk optimism has been shortlived. Advertisement"Overall, we feel today's measures are a step in the right direction, especially as multiple measures have been announced together rather than spacing out individual piecemeal measures to a more limited effect," Lynn Song, the Greater China chief economist at ING bank, wrote on Tuesday.

Persons: —, Pan Gongsheng, Pan, Betty Wang, Wang, it's, Nomura, Lynn Song Organizations: Service, People's Bank of China, Business, Analysts, Oxford Economics, CSI, Nomura, ING Locations: Beijing, China, Greater China

☆ 10 things to watch in the stock market Tuesday, including long-awaited China stimulus
▼ + stars: | 2024-09-24 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

China related stocks were on the move Tuesday after the People's Bank of China said it will cut interest rates. What the Jefferies downgrade misses is the market is giving Starbucks a pass as Niccol builds his team and makes changes. Truist downgraded Club holding Costco to a hold rating ahead of earnings, which are out after Thursday's close. The analysts still have a hold-equivalent rating on Club holding Home Depot but boosted their price target to $400 per share. China related stocks were on the move Tuesday after the People's Bank of China said it will cut interest rates.

Persons: Brian Niccol, Chipotle, Jefferies, Truist, Salesforce, Piper Sandler, Oppenheimer, Regeneron, Eli Lilly, Pinterest, —, Jeff Marks, Jim Cramer's, Jim Cramer, Jim Organizations: People's Bank of, Starbucks, Jefferies, Costco, Walmart, Analysts, Barclays, Constellation Brands, Oppenheimer, Justice Department, Visa, Bloomberg, Jim Cramer's Charitable, CNBC Locations: China, People's Bank of China, Japan

The Chinese central bank's largest stimulus measures since Covid should provide the world's second-largest economy with a much-needed boost, which should help our portfolio companies doing business there. The Club has a broad range of companies with significant sales exposure to China, and some with none. Here's a look at the percentages in our 32 stock portfolio, as well as recent earnings call commentary, about the business climate and the potential in China. On the industrial side, DuPont has the most China exposure because of its electronics and water businesses. Eaton and Dover don't have nearly as much China exposure.

Persons: Donald Trump, Kamala Harris, Biden, Colette Kress, Tim Cook, Brian Niccol, Gamble, Andre Schulten, Peter Arduini, Lori Koch, Stanley Black, —, Jeff Marks, Jim Cramer's, Jim Cramer, Jim, Peng Organizations: People's Bank of China, Wall, Commodities, Republican, House, Democratic, Trump, Broadcom, Nvidia, AMD, Nvidia's, Apple, Starbucks, Investors, Huawei, Jefferies, Consumer, Procter, Barclays, GE Healthcare, GE, DuPont, Banking, Coterra Energy, Investing, Jim Cramer's Charitable, CNBC Locations: Asia, China, America, U.S, Eaton, Dover, People's Republic of China

☆ Aussie dollar near 2024 high before RBA; yen drifts as Ueda awaited
▼ + stars: | 2024-09-24 | by ( ) www.cnbc.com time to read: +3 min

The Australian dollar hovered close to its highest level of the year on Tuesday, with the central bank set to hold policy steady later and traders focused on any hints of potential near-term easing. The Australian dollar hovered close to its highest level of the year on Tuesday, with the central bank set to hold policy steady later and traders focused on any hints of potential near-term easing. The yen edged up to 143.45 per dollar, but remained close to the center of its September range of 147.20 to 139.58, a more than one-year peak reached on Sept. 16. The yen has retreated amid waning bets for aggressive tightening by the BOJ, particularly after governor Ueda struck a cautious tone of Friday, saying the central bank would spend some time monitoring global growth risks. The BoE kept rates unchanged last Thursday, with its governor saying the central bank had to be "careful not to cut too fast or by too much".

Persons: Kazuo Ueda, —, Pan Gongsheng, Ueda, Sterling, BoE Organizations: U.S, Bank of Japan, Bank of England, Federal Reserve, European Central Bank, Reuters, Commonwealth Bank of Australia, People's Bank of China, P Global Locations: China

☆ CNBC Daily Open: Fedspeak reassures markets
▼ + stars: | 2024-09-24 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Markets regain momentumU.S. markets rose Monday, with the S&P 500 and Dow Jones Industrial Average notching fresh closing highs. Asia-Pacific stocks mostly climbed Tuesday, with the Chinese and Hong Kong markets popping over 3% on Beijing's announcement of policy easing measures. PBOC policy easingThe People's Bank of China Governor Pan Gongsheng on Tuesday announced a cut to banks' reserve requirement ratio.

Persons: Neel Kashkari, The Beverly Hilton, Pan Gongsheng Organizations: Federal Reserve Bank of Minneapolis, The Beverly, CNBC, Dow Jones, People's Bank of China, Boeing, Tech, Big Tech, Companies, Nomura Locations: Beverly Hills , California, U.S, Asia, Pacific, Hong Kong, China, Beijing

☆ China's central bank chief set to hold press conference days after Fed rate cut
▼ + stars: | 2024-09-24 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

The relatively rare high-level press conference was scheduled after the U.S. Federal Reserve cut interest rates last week. That kicked off an easing cycle that theoretically gives China's central bank further room to cut its rates and boost growth in the face of deflationary pressure. Pan became PBOC governor in July 2023. He then told reporters in March, alongside China's annual parliamentary meeting, there was room to cut the RRR further. China's government system also means that policy is set at a far higher level than that of the financial regulators speaking Tuesday.

Persons: Pan Gongsheng, Gongsheng, Pan Organizations: People's Bank of China, BEIJING — People's Bank of China Gov, U.S . Federal Reserve Locations: Shanghai, China, BEIJING

☆ Property stocks in Hong Kong rally on homes mortgage stimulus
▼ + stars: | 2024-09-24 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +3 min

Chinese property stocks rallied on Tuesday after top financial regulators vowed a range of monetary easing measures to provide some relief for millions of families and boost a recovery in the real estate market. During a high-level press conference Tuesday morning, People's Bank of China Gov. Hang Seng Mainland Properties Index surged as much as 5% when Hong Kong markets opened shortly after the announcement was made. Chinese policymakers have been ramping up support to reduce household's financial burden and shore up the troubled real estate sector. Homeowners could also be allowed to refinance with a different bank for the first time in years, the outlet reported.

Persons: Pan Gongsheng, Pan, William Wu, Bruce Pang, Pang Organizations: People's Bank of China Gov, Mainland Properties, Longfor Group Holdings, China Overseas Land & Investment, Daiwa, Bloomberg Locations: Beijing, Hang, Hong Kong, China, JLL

☆ China's youth unemployment hits fresh high amid economic slowdown and restrictive hiring policies
▼ + stars: | 2024-09-23 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

China's youth unemployment rate in August rose to the highest level since the new system of record-keeping began in December, data from the National Bureau of Statistics showed, amid an economic slowdown. China's urban unemployment rate across all age categories rose 5.3% in August, compared to a 5.2% climb in July. China paused reporting the youth unemployment rate for much of the latter half of last year while it reassessed its calculation methods. China's youth unemployment has also been affected by restrictive hiring policies amid a struggling economy as companies are refusing to hire recent college graduates due to the difficulty and costs involved in firing workers in China. "That's why the [overall] unemployment rate isn't that bad but the unemployment rate for youths is so high," Rein added.

Persons: That's, Dan Wang, Shaun Rein, Rein Organizations: National Bureau, Statistics, HSBC, China Market Research, People's Bank of Locations: China, People's Bank of China

☆ China's central bank injects cash, lowers 14-day reverse repo rate
▼ + stars: | 2024-09-23 | by ( ) www.cnbc.com time to read: +1 min

China's central bank supplied 14-day cash to its banking system for the first time in months on Monday and at a lower interest rate, signaling its intent to further ease monetary conditions. China's central bank supplied 14-day cash to its banking system for the first time in months on Monday and at a lower interest rate, signaling its intent to further ease monetary conditions. The PBOC added 160.1 billion yuan via 7-day reverse repos at 1.70%, it said in a statement. It also injected 74.5 billion yuan via 14-day reverse repos at 1.85%, compared with 1.95% during the previous injection. Monday's injection comes ahead of China's National Day holidays starting Oct. 1, and the cut in rates aligns the 14-day repo rate with the shorter 7-day repo rate which was cut in July.

Organizations: People's Bank of China Locations: China

☆ Asia-Pacific markets open lower after Federal Reserve rate cut optimism sent markets higher last week
▼ + stars: | 2024-09-23 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

A Chinese flag in Pudong's Lujiazui Financial District in Shanghai, China, on Sept. 18, 2023. Asia-Pacific markets opened lower Monday as investors assessed monetary policy decisions from Japan and China on Friday after U.S. Federal Reserve's sharp rate cut sent markets higher last week. Despite growing calls for lower interest rates, the People's Bank of China unexpectedly left its key benchmark rate on hold on Friday. The Reserve Bank of Australia starts its two-day policy meeting on Monday, where central bankers will decide on the country's monetary policy path on Tuesday. Overall year-on-year CPI is expected to have cooled to 2.15%, compared to 2.40% the previous month

Organizations: National Bureau of Statistics, People's Bank of China, Reserve Bank of Australia Locations: Lujiazui, Shanghai, China, Asia, Pacific, Japan, Federal, Singapore

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