Chinese Stocks Post Best Week in 16 Years with 15% Gain Amid $140 Billion Stimulus

Sep 27, 2024, 10:59 AM

Chinese stocks have experienced their best week since 2008, driven by a massive stimulus package from Beijing. The CSI 300 index rallied over 15%, while the Hang Seng Index in Hong Kong posted its best week since 1998, jumping over 12%. The stimulus measures, which include a $140 billion package and multiple rate cuts, are the most aggressive since the pandemic. The rally, which marks the best weekly performance in 16 years, comes ahead of the Golden Week holidays and reflects renewed investor confidence in China's economic recovery, bolstered by Politburo vows and lifting Asian shares to a 2-1/2-year high.