Stocks in Hong Kong rose to their highest level this year Wednesday, joining a slew of other markets closely tied to China that are rebounding on signs the world’s second-biggest economy is recovering.
The Chinese the government’s recent economic support measures, including targeted credit easing, more spending on railways and business tax breaks, have helped boost global investors’ confidence in China. Worries over a hard-landing, or sharp slowdown, have also dissipated in recent weeks.
Other markets are also benefiting. Copper is near a four-month high and the Australian dollar is close to its strongest level in eight months. Both are sensitive to China’s economic fortunes. China is the largest buyer of the red metal, and it is Australia’s biggest destination for commodity exports.
Read Full Article HERE
bljworldwide via CHINA US Focus http://ift.tt/1qybQjW
No comments:
Post a Comment