Far East Market Rise on China Promise
Published / Last Updated on 09/11/2008
Far East Market Rise on China Promise
Overnight stock markets in the far east and Asian markets have surged on the back of a Chinese Government announcement that it would make significant moves to stimulate the Chinese economy.
China intends to spend money on the infrastructure of the country including rural development, technology, increased monetary policy with greater bank lending, housing development and earthquake reconstruction which will deliver much needed revenue in China thus stimulating surrounding economies.
The Chinese and Japanese stock markets were the first to react to this with a significant 7% market rise in China, 6% in Tokyo and 3% in Hong Kong.
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