Market Commentary - Foreign Markets
Chinese stocks ended up 2% as markets stay focussed on efforts to boost economy As on : 14-Oct-24  16:36

Chinese stocks ended with good gains today though the overall movement was volatile. Economic cues stayed in limelight. China's Shanghai Composite index recovered from an early tumble and ended up 2.07 percent at 3,284.32 as investors stayed focus on the stimulus efforts. Media reports stated that China’s finance minister offered to provide more help for the country’s economy. The government would issue special bonds and that it had $325 billion in funds raised that it could deploy in the next three months to achieve its goals.

China's consumer prices steadied in September amid a sustained recovery of domestic demand, official data showed Sunday. The consumer price index (CPI), a main gauge of inflation, was up 0.4 percent year on year in September, lower from a 0.6-percent rise in August, the National Bureau of Statistics (NBS) said. On a monthly basis, the CPI remained unchanged compared to the previous month.

China's producer price index (PPI), which measures costs for goods at the factory gate, went down 2.8 percent year on year in September, the National Bureau of Statistics (NBS) said Sunday. On a monthly basis, the PPI edged down 0.6 percent, narrowing from a 0.7-percent decrease a month earlier, the data showed. From January to September, the average PPI decreased 2 percent from a year ago.

Meanwhile, Hong Kong's Hang Seng index ended 0.75 percent lower at 21,092.87 and led to a mixed outing for Asian stocks. Japanese markets were closed.

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