INTERNATIONAL BUSINESS TIMES au NEWSLETTER SIGNUP My account Log Out Sep 30, 5:36 PM AEST Business News Sports Technology Entertainment NEWSLETTER My account Log Out Australia edition Business News Sports Technology Entertainment Editions Australia India International Singapore United Kingdom United States NEWSLETTER Follow Us Editions Australia India International Singapore United Kingdom United States Hong Kong, Shanghai Soar On China Stimulus, Strong Yen Batters Tokyo By AFP news Published 09/30/24 AT 5:36 PM AEST Share on Facebook Share on Twitter Share on LinkedIn Share on Reddit Share on Flipboard Share on Pocket Tokyo's Nikkei index has been battered by a stronger yen AFP Shares in Hong Kong and mainland China rocketed Monday, extending last week's surge after Chinese authorities unveiled a raft of measures aimed at kickstarting the world's number two economy. However, Tokyo plunged five percent in reaction to Shigeru Ishiba's election last week as the head of Japan's ruling party, which boosted expectations the Bank of Japan will continue hiking interest rates. Shanghai piled more than eight percent higher at one point and Shenzhen more than 10 percent, while Hong Kong leapt around four percent as investors rushed back into the beaten-down markets in reaction to a series of economy-boosting stimulus out of Beijing over the past week.
Among the measures unveiled over the past week were interest rate cuts, easing of how much banks must keep in reserve and softer rules o.
