(Bloomberg) — Stocks in Asia saw a boost following a positive close on Wall Street, driven by a shift from large tech companies to smaller ones. Chinese stocks initially rose but later retreated after comments from finance and housing ministers.
One of the most popular stories on Bloomberg
China’s CSI 300 index flattened out after an initial increase of 1.3%. A measure of Chinese real estate stocks continued to decline. China announced plans to increase funding for “white list” projects to $562 billion, up from $2.23 trillion already allocated. Stock benchmarks in Hong Kong also saw some gains pared back.
Australian shares climbed, while Japanese stocks experienced some volatility. US stock futures dipped slightly after the S&P 500 gained 0.5% on Wednesday. The Russell 2000 index hit its highest level in nearly three years, while the Nasdaq 100 lagged behind with just a modest increase of 0.1%.
All eyes were on China as investors awaited data expected on Friday showing a projected 4.5% growth in the economy for the third quarter compared to last year…
2024-10-16 22:18:30
Link from finance.yahoo.com