Asian Stocks Mixed With Rumours of More Chinese Stimulus Coming

Shares in mainland China led the way in an otherwise cautious day of trading in Asia, as investor sentiment there was boosted by rumours of more stimulus from Beijing.

The Shanghai Composite closed up 2.33% at 3,536.91 points, while Hong Kong’s Hang Seng index closed up 0.44% at 22,479.69.

Elsewhere, Asian stocks were mixed despite a strong lead from Wall Street.
Japan’s Nikkei 225 index closed down 0.4% to 19,938.13 points.

The benchmark breached the key 20,000 level for the first time since August on Tuesday.

Reports were swirling that the Chinese government would unveil tax incentives to encourage more home purchases to stimulate the once red-hot property market.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza