Asian stocks bounced back today (September 17th) after China’s central bank announced new measures to boost the country's economy.
China is injecting 500 billion yuan (£50 billion) into the nation’s largest banks, according to a government official familiar with the matter.
The move follows a series of reports pointing to a possible slowdown of the world's second economy.
Recent data revealed that inflation remained weak in August was followed by new data over the weekend showing that industrial output growth was at its lowest level since the 2008 global financial crisis.
The MSCI AC Asia Pacific Index (MXAP) advanced 0.2 per cent today after China’s central bank move.
Tokyo's Nikkei 225 rose 0.1 per cent to 15,929.85 and Hong Kong's Hang Seng surged 1.2 per cent to 24,415.89. China's Shanghai Composite dipped 0.1 per cent to 2,294 while Australia's S&P/ASX 200 lost 0.4 per cent to 5,426.10.
Learn about the Asian markets and CFD trading at City Index.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.