Chinese Vice Premier He Lifeng and top financial officials will address the Global Financial Leaders Investment Summit in Hong Kong, focusing on mainland China"s financial developments. The summit, hosted by the Hong Kong Monetary Authority, features prominent global bankers amid a challenging economic landscape, with signs of recovery following recent stimulus measures from Beijing.
Asia-Pacific markets opened higher, buoyed by Wall Street gains and a Tesla rally, as investors await key speeches from Chinese financial officials at a summit in Hong Kong. The Reserve Bank of Australia is set to release minutes from its recent monetary policy meeting, where interest rates were held steady at 4.35%. Meanwhile, U.S. markets showed mixed results, with the Nasdaq rising 0.6% and the Dow Jones slipping 0.1%, amid concerns over the Federal Reserve"s rate cut trajectory.
China's securities regulator has called on asset managers and securities firms to enhance their support for investment and financing needs, aiming to foster stable and healthy capital market development. Chairman Wu Qing emphasized the critical role these entities play in advancing market reforms during recent symposiums with industry representatives.
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