Chinese stock markets rebound as Beijing intensifies efforts to stabilize its financial markets.
Hong Kong advanced by 4%, Shanghai by 3.2% and Shenzhen by 5.1% after the state fund Central HuijinInvestment announced that it will expand its investments in ETFs and the CSRC, the Chinese Consob, reiterated its commitment to attracting institutional investors and funds towards the stock market.
That the issue of stock markets is at the center of Beijing's political agenda is also demonstrated by the fact that President XiJinping will have a meeting with Chinese regulators today, from which he expects updates on the market situation and the countermeasures implemented.
On the other hand, the other Asian stock markets were weak, discounting expectations for a rapid rate cut by the Fed. Tokyo lost 0.5%, Seoul and Sydney lost 0.6%.
Futures on Wall Street and Europe rose slightly after yesterday's sluggish session, while Treasury yields, after the strong rises of the last two days, fueled by the solidity of the American economy and less rosy expectations on rates, fell a couple of basis points, at 4.13%.
On the raw materials front, oil was little moved (+0.2%), with the WTI close to 73 dollars a barrel and Brent just above 78 dollars, as were the TTF futures on gas (+0.2% at 28 .4 euros per megawatt hour).
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