Asian markets got a boost on Tuesday when China said it plans to be more proactive in fiscal policy measures and moderately loosen its monetary policy over the next year. China is taking measures to strengthen domestic consumption and the country’s economy.
Mainland China’s CSI 300 index was up 0.9 percent at the time of the review, and the Hang Seng index, which follows the Hong Kong stock exchange, was up 0.2 percent.
South Korean stock markets were also in an upward trend after the decline. The country has been going through political upheaval last week and at the beginning of this week, when the president Yoon Suk Yeol announced the country’s short-term state of emergency.
The Korean Kospi index was up 2.4 percent at the time of the review.
The cosmetics company listed on the Hong Kong stock exchange on Tuesday Mao Gepingin the shares rose by more than 80 percent on the first day. The value of the company’s shares at the time of listing was approximately 2.3 billion dollars.
There was also a bullish mood in Japan, as the Nikkei index, which follows the Tokyo Stock Exchange, was up 0.6 percent at the time of the review.
On Monday, China said it would begin an investigation into whether Nvidia violated the anti-monopoly law. The news got investors on their toes, and Nvidia’s stock ended up down about 2.6 percent on Wall Street on Monday.
In the commodity market, gold rose to its highest level in two weeks due to purchases by the Chinese central bank. Expectations of the US central bank’s interest rate cuts next week also increased gold’s rise, he estimates CNBC.
A billionaire in India Mukesh Amban owned by Reliance Industries seeks to renew its funding, says Bloomberg. Six banks are now negotiating a loan package worth about three billion dollars for the company. Reliance Industries’ loans worth about 2.9 billion will mature in 2025.
At 8:34 a.m. one euro was worth 1.07 dollars, 159.66 yen, 0.83 pounds and 11.52 Swedish kronor. The dollar was 151.09 yen and the pound was 1.28 dollars.
Based on the futures, Wall Street is expected to open downward.
A drop in Europe is also expected.