Welcome to this week’s edition of top stock market highlights.
China’s stimulus measures
As China’s slowdown deepens, the country’s central bank announced another short-term policy rate cut to spur consumer demand.
The People’s Bank of China (PBOC), China’s central bank, reduced the 14-day reverse repurchase rate from 1.95% to 1.85%.
Along the way, the central bank also injected RMB 74.5 billion of liquidity into the banking system.
This move came ahead of China’s National Day Holiday which typically lasts for seven days whereby the PBOC will offer 14-day loans ahead of the break.
Meanwhile, the Ministry of Finance and Ministry of Civil Affairs will dish out one-off cash handouts to people in extreme poverty on 1 October.
This rate move came a day after the government announced a sweeping program to stimulate the country’s economy.
Living subsidies will be handed out to disadvantaged groups including orphans and the very poor before the National Day Holiday....