China rally loses steam as authorities disappoint markets; Hong Kong stocks plunge more than 6%

China rally loses steam as authorities disappoint markets; Hong Kong stocks plunge more than 6%

A customer watches stock market at a stock exchange in Hangzhou, China, on September 27, 2024.  Costfoto | Nurphoto | Getty Images SINGAPORE — The rally in Chinese markets lost steam on Tuesday after a briefing from the country’s National Development and Reform Commission provided few details on further stimulus. While mainland China’s CSI 300…

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China’s factory activity contracts less than expected in September

China’s factory activity contracts less than expected in September

A worker assembling a loader transmission mechanism at a manufacturer in Qingzhou, China. Nurphoto | Nurphoto | Getty Images China’s factory activity contracted for a fifth consecutive month in September as the world’s second-largest economy struggles to revive its growth momentum. The official manufacturing purchasing managers’ index came in at 49.8 in September, compared with…

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The Fed won’t ‘push the panic button’ and go for a jumbo rate cut, economist says

The Fed won’t ‘push the panic button’ and go for a jumbo rate cut, economist says

U.S. Federal Reserve Chairman Jerome Powell holds a press conference after the release of the Fed policy decision to leave interest rates unchanged, at the Federal Reserve in Washington, U.S, September 20, 2023. REUTERS/Evelyn Hockstein Evelyn Hockstein | Reuters As investors await the upcoming rate decision by the U.S. Federal Reserve this month, Carl Weinberg…

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