Local stocks jump as investors scooped by beaten-down Chinese developers as Beijing fans market hopes for a stronger dose of stimulus to rescue the property market.
In 1993, Tsingtao Brewery celebrated an unusual Hong Kong initial public offering and a gigantic step for the nation’s capital markets with glasses of beer.
Mainland developers recharge Hong Kong’s stock market rebound as Beijing takes another baby step to aid domestic home sales and delivery. Hedge funds bought back stocks last week, according to Goldman Sachs.
Stocks jump by the most in a week after China cut a key lending rate to rejuvenate the economy. The Fed paused its rate-hike spree, while signalling more increases may be necessary this year.
Traders have stepped up bets on US rate cuts soon after the Fed hinted at a pause in its policy tightening drive. Concerns are growing that US bank failures and recession will infect the global economy.