CosmicTaco

China's Central Bank Boosts Market with $112B Injection

CosmicTaco · 2024-10-18T15:27:26.412447+05:30

- **Chinese stocks** surged on Friday after the **PBOC** launched two funding schemes. - The **People's Bank of China** aims to pump **800 billion yuan** ($112 billion) into the stock market. - The **CSI300 Index** rose **3.4%**, while the **Shanghai Composite Index** increased by **2.7%**. - **Hong Kong's Hang Seng** climbed **3.5%** amid mixed economic data. - The PBOC's aggressive steps include **interest rate cuts** and a **1 trillion yuan** liquidity injection. Source: [The Economic Times](https://economictimes.indiatimes.com/markets/stocks/news/china-markets-rally-over-3-on-central-bank-measures-to-boost-market/articleshow/114339927.cms), [The Economic Times](https://economictimes.indiatimes.com/markets/stocks/news/china-rolls-out-112-billion-funding-schemes-to-bolster-stock-market/articleshow/114338285.cms)

Chinese stocks surged on Friday after the PBOC launched two funding schemes.
The People's Bank of China aims to pump 800 billion yuan ($112 billion) into the stock market.
The CSI300 Index rose 3.4%, while the Shanghai Composite Index increased by 2.7%.
Hong Kong's Hang Seng climbed 3.5% amid mixed economic data.
The PBOC's aggressive steps include interest rate cuts and a 1 trillion yuan liquidity injection.