Beijing's unexpectedly huge stimulus package sent the share prices of Chinese companies listed in Singapore surging in recent days to their highest level in years.
Singapore Exchange-quoted Chinese property group Yanlord Land's stock price has surged a whopping 57 per cent over the past week, while solar energy player Sunpower Group is up 38 per cent.
Others like Sasseur Reit (real estate investment trust), China Aviation Oil, property developer Ying Li International and even chemical producer Jiutian Chemical have also popped.
This came after China last week unveiled a stimulus package to counter a multi-year slowdown in growth due to its ailing property sector, weak exports and sluggish domestic demand.
Key elements of the package included monetary easing by the People's Bank of China, increased infrastructure spending, support for the real estate sector via re-lending programmes, cuts in taxes and subsidies to boost domestic consumption and easing restrictions on foreign investments.
The measures surprised analysts, but ignited a sharp rally in China-linked stocks here on optimism that they could benefit from a rejuvenation of an economy that has been stagnant for the better part of the four years.
Diese Geschichte stammt aus der October 04, 2024-Ausgabe von The Straits Times.
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Diese Geschichte stammt aus der October 04, 2024-Ausgabe von The Straits Times.
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