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Asian Stocks Reverse Losses as China Rallies: Markets Wrap
The Shanghai Composite Index surged more than 4 percent, on track for its biggest gain since March 2016, buoyed by verbal support from authorities and plans to cut personal income taxes to support an economy showing strains from the trade war. Speculation of intervention from China’s “National Team” of state-backed funds together comments from the heads of the central bank, banking and insurance regulator, and securities regulator lifted stocks Friday from a four-year low. Chinese President Xi Jinping also vowed “unwavering” support for the country’s private sector.
https://finance.yahoo.com/news/asia-stocks-face-mixed-start-215712280.html?.tsrc=rss
The Shanghai Composite Index surged more than 4 percent, on track for its biggest gain since March 2016, buoyed by verbal support from authorities and plans to cut personal income taxes to support an economy showing strains from the trade war. Speculation of intervention from China’s “National Team” of state-backed funds together comments from the heads of the central bank, banking and insurance regulator, and securities regulator lifted stocks Friday from a four-year low. Chinese President Xi Jinping also vowed “unwavering” support for the country’s private sector.
https://finance.yahoo.com/news/asia-stocks-face-mixed-start-215712280.html?.tsrc=rss
