Chinese stocks surged following the government's announcement of a "moderately loose" monetary policy and a "more proactive" fiscal approach, signaling stronger stimulus measures ahead. The Hang Seng Index rose about 3%, with major companies like Alibaba and XPeng seeing significant gains. However, volatility remains as the market grapples with potential trade tensions with the U.S. and the aftermath of previous stimulus measures that failed to meet expectations.
China's industrial profits fell 27.1% in September, the steepest decline since March 2020, amid slow growth and a property crisis. The economy grew by 4.6% in Q3, the slowest pace this year, prompting calls for stronger demand-side policies as authorities prepare for fiscal stimulus measures. The upcoming manufacturing PMI for October is expected to show slight improvement, with economists predicting a reading of 50.1.
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