This weekend will determine how the China stock rally continues
We've seen a striking rally in stocks connected to China this month. While it's been a volatile few weeks, the rise in the Hong Kong market and stocks connected to China across the US and Australia, has been impressive.
This includes many Australian miners, such as $BHP Group Ltd (BHP.AU)$, Chinese equity ETFs, foreign-listed Chinese stocks (just check out the performance of the $NASDAQ Golden Dragon China (.HXC.US)$ index) – companies whose stock is traded in the US but whose business operates in China, and a broad array of stocks that could benefit from a resurgent economy in China from $Estee Lauder (EL.US)$ to $Wynn Resorts (WYNN.US)$.
What you need to know is that this weekend will likely determine how this rally plays out.
Tomorrow China is expected to announced further support for its economy, as the government aims to achieve 5% growth in gross domestic product this year.
So it all depends on what the finance minister comes out with in his briefing. Will it be the US$280 billion or so of expected further stimulus that could help boost local consumption?
If it's less or more it could sway global markets significantly. We will update you first thing Monday morning, outlining what's happened and what we can expect in market reaction. So keep your eyes on our YouTube channel and stay up to date!
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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