April 20, 2024
Mortgage

China cuts mortgage rates by record amount to help struggling property sector

Published: Feb. 20, 2024 at 2:55 a.m. ET China made its biggest ever cut to mortgage rates on Tuesday, as the authorities try to support the struggling property sector, though the response from stock markets was muted. The People’s Bank of China said that the country’s lenders would reduce their five-year loan prime rate (LPR)

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Funds

China stocks rally after government fund says it will increase stock buys

NEW YORK (AP) — Shares are mixed in Asia, where Chinese markets advanced after a government investment fund said it would step up stock purchases. But the gains in Shanghai, Shenzhen and Hong Kong were much smaller than recent losses. Oil prices rose and U.S. futures were mixed. China’s Central Huijin Investment, a sovereign fund

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