Business
Chinese Stocks Make a Comeback from Five-Year Low: Market Awaits US Federal Reserve Rate Decision
Shares in China recover from a five-year low as trading restarts post-holiday. Chinese shares bounce back from their most significant dip in over half a decade, as investors anticipate a rate judgement from the US Federal Reserve.
The market in Hong Kong is shut down due to a public holiday and will recommence operations on Thursday.
The CSI 300 Index saw a marginal increase of 0.4 percent, closing at 3,171.01. This comes after hitting its lowest level since January 24, 2019, last Friday. Meanwhile, the Shanghai Composite Index experienced a slight gain of 0.5 percent, while the Shenzhen Composite Index fell by 0.2 percent. The mainland markets still trail behind the Hang Seng Index, which has already risen by 1.7 percent in the initial two trading days of this week.
According to data gathered by CME Group, there is now a 65% chance of a 50-basis-point decrease and a 35% likelihood of a reduction by a quarter point.
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