Hong Kong's Hang Seng Tech Index up 4%, JD.com Gained 6.4% and Alibaba Advanced 5.2%
HK’s Hang Seng Index up over 2%, Hong Kong's Hang Seng Tech Index up 4%, Tencent jumped 3.6%, JD.com gained 6.4%, Alibaba advanced 5.2%, HELENS rose 33%, HAIDILAO rose 12%.
China is considering injecting up to 1 trillion yuan ($142 billion) of capital into its biggest state banks to increase their capacity to support the struggling economy, Bloomberg reported Thursday, citing people familiar with the matter.
With China’s central bank recently surprising the market with its broad package of monetary stimulus steps, more fiscal measures may come in the next few days as President Xi Jinping’s 24-member Politburo is set to meet ahead of the weeklong holiday.
In a rare announcement of direct aid, coming just a day after unveiling a sweeping program to stimulate the world’s second-largest economy, authorities said they will give one-off cash handouts to people in extreme poverty, the state broadcaster CCTV reported Wednesday, without providing details.
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