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As on : 27-Sep-2024
Market Commentary - Foreign Markets
27-Sep-2024     16:12

Chinese markets continue rally on strong fiscal stimulus

Equity markets in Asia cheered China implementing policy announcements made earlier in the week to support economic growth. The euphoria eclipsed anxiety surrounding the release of the PCE-based inflation readings from the U.S. on Friday.

China's Shanghai Composite Index surged 2.8 percent to finish trading at 3,086.08. The day's trading ranged between 3,086.14 and 3,017.45. The highest level in four months also helped Shanghai Composite to post the best week since 2008. The Shenzhen Component Index jumped 6.7 percent to close at 9,514.86.

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