Today’s Market News |
Key developments on Wednesday: |
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It was China’s biggest stimulus since the pandemic, and domestic and regional markets reacted accordingly – Shanghai’s composite index jumped 4.2% for its best day since July 2020, the MSCI Asia ex-Japan index hit its highest since April 2022, and the MSCI emerging market currency index leapt to a new high.
Metal prices got a boost after the world’s second-largest economy, China, unveiled its biggest stimulus since the pandemic to pull the economy out of its deflationary funk.
U.S.-listed shares of Chinese firms such as Alibaba rose 7.88%, PDD Holdings (PDD.O), opens new tab added 11.79% and Li Auto advanced 11.37%, tracking gains in the domestic market.
Megacap stocks were mixed, with Nvidia (NVDA.O), opens new tab gaining 3.9%, while Microsoft (MSFT.O), opens new tab lost 1.15%. The broader technology sector (.SPLRCT), opens new tab rose 0.79%
| Index | Last | Change | % Change |
|---|---|---|---|
|
trading higher
|
42,063.36 | +38.17 | 0.09%Positive |
|
trading lower
Nasdaq Composite Index
.IXIC |
17,948.32 | -65.66 | 0.36%Negative |
|
trading lower
S&P 500 Index
.SPX |
5,702.55 | -11.09 | 0.19%Negative |
| Index | Last | Change | % Change |
|---|---|---|---|
|
trading higher
Nikkei Index
.N225 |
38,065.56 | +124.97 | 0.33%Positive |
|
unchanged
Hang Seng Index
.HSI |
19,000.56 | — | — |
|
trading lower
S&P BSE SENSEX Index
.BSESN |
84,914.04 | -14.57 | 0.02%Negative |
For more news visit Reuters.com
