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Follow on Google News | China Unleashes Major Moves, Stock Market Brews a Violent ReversalBy: EBC Financial Group The central bank also mentioned that starting January 25th, the interest rates for agricultural re-lending, small business re-lending, and rediscounting would be reduced by 25 basis points respectively. Following the announcement, both A-shares and H-shares surged dramatically. On Wednesday, the Hang Seng Index saw a 3.6% increase, marking its best single-day performance in two months. Before the policy announcement, the mainland stock market also experienced a strong rebound. Previously, Bloomberg reported that the world's second-largest economy is considering deploying 2 trillion RMB to establish a stabilization fund to steady the market. The latest actions of Jack Ma, one of China's most famous entrepreneurs, have also injected confidence into the market. He and his partner, Joe Tsai, bought approximately $200 million worth of Alibaba shares. This means that their total holdings have surpassed those of SoftBank Group, making them the largest shareholders of Alibaba. Alibaba's stock recorded its biggest half-year gain yesterday, serving as the largest driving force behind the rally in the Hong Kong stock market. https://www.ebc.com/ End
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