Asian Markets Rise on Chinese Policy Moves

Chinese Stocks Soar as Beijing Unveils Supportive Measures

Chinese stocks experience significant gains as Beijing announces new policies to bolster the markets. These measures include a set of rules governing lending to property developers and a reduction in bank reserve requirements, injecting $141 billion into the economy. The Chinese economy has been grappling with slowing growth, with forecasts indicating a growth rate below 5% this year. This sluggish performance, combined with a debt crisis in the real estate industry, has prompted the government to take action.