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.
Denne historien er fra October 04, 2024-utgaven av The Straits Times.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra October 04, 2024-utgaven av The Straits Times.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Dedication To Sushi Tradition
An iron law of sushi holds that the more impressive the restaurant, the smaller the sign.
Squid Game 2 cast play five stones, sepak takraw
In K-drama Squid Game (2021 to present), players take on children's games for a hefty cash prize in the hit Netflix series. But how would the cast fare playing children's games known to Singaporean and regional audiences?
Sequels take nine of 10 slots in US box office in 2024
In 2023, Hollywood's creative community was celebrating the apparent decline of corporate, paint-by-numbers sequels and remakes.
Zhao Lusi says she was abused and is suffering from depression
The year may have just begun, but the Chinese entertainment scene has already been hit by controversy. Chinese actress Zhao Lusi (right) revealed in a post on Weibo on Jan 1 that she was a victim of physical abuse at the workplace and is now suffering from depression.
Jungkook Is First Asian Artiste To Surpass 2.1 Billion Streams With One Song On Spotify
K-pop boy band juggernaut BTS’ member Jungkook is the first Asian artiste to surpass 2.1 billion streams on Spotify with one song.
Comfort Meets Style
Young employees are increasingly switching out formal suits and ties for more expressive dressing styles
Down-to-earth home with stories to tell
Artist and stylist Geraldine Toh's apartment project combines art, design elements and an earthy sensibility with the colour ochre
Tampines legend Kopitovic makes staggering Bali move
When Boris Kopitovic first arrived in Singapore to join BG Tampines Rovers in 2020, few expected the Montenegrin forward to make a lasting impact.
LEE IMMERSING IN GREECE
World Aquatics scholarship recipient quits job to pursue water polo dreams
Gunners On Fire Despite Virus
They overcome bug outbreak to overturn Brentford's advantage for crucial victory
