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Hong Kong corrects over China stimulus worry

Sep. 10, 2014 8:28 AM ETFXI, PGJ, EWH, GXC, FXP, FCHI, XPP, YAO, YINN, YANG, YXI, MCHI, FCA, EWHS, FHK, CXSE, CNBy: Stephen Alpher, SA News Editor
  • “There’s already a lot of money in the pool, and we can’t rely on monetary stimulus to spur economic growth,” said China Premier Li Keqiang overnight after the M2 money supply rose 12.8% in August, down from 13.5% in July. His comments, says one money manager, suggests the economy isn't in good shape, but that the government will be focusing on reform rather than short-term boosts.
  • The Hang Seng closed lower by 1.9%, while the Hang Seng China Index (H-Shares) dove 2.6%. The Shanghai Composite fell 0.4%. Prior to last night, the H-Shares had rallied 21% since mid-March.
  • ETFs: FXI, EWH, PGJ, GXC, YINN, FXP, YANG, MCHI, XPP, YAO, YXI, CHXF, CN, EWHS, FCHI, FCA, FHK

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