Importantly, investors viewed this policy move as positive for China's real estate market. The Hang Seng Mainland Property Index (HMPI) rose 30.64% in the week ended September 27. Notable stock gains across the real estate sector include Longfor Group Holdings (0960) (+56.44%) and Simao Group Holdings (0813). (+69.81%), Agile Group Holdings, Inc. (3383) (+46.51%).
The tech sector also benefited, with the Hang Seng High-Tech Index (HSTECH) ending the week up 20.23%.
Notable tech stock moves included Baidu (9888) and Alibaba (9988), up 17.73% and 17.55%, respectively, and Tencent (0700), up 12.66%.
In mainland China, the CSI 300 rose 15.70% and the Shanghai Composite rose 12.83%.
Commodities soar due to China's policy management
China's policy measures also boosted buyer demand for iron ore on hopes of a recovery in economic activity. Spot iron ore rose 15.62% in the week ending September 27, while gold rose 1.38% to $2,658.
ASX 200 gains on mining stocks
The ASX 200 edged up 0.03% for the week. Mining giants BHP Group (BHP) and Rio Tinto (RIO) benefited from new policy measures in China, rising 10.91% and 12.77% respectively for the week.
Nikkei-listed export stocks rise due to weak yen
Tokyo's inflation data dampened expectations for a Bank of Japan rate cut in the fourth quarter of 2024, boosting demand for USD/JPY. USD/JPY soared to a high of 146.491 on Friday, September 27th, before reversing during US trading on Friday. The weaker yen has increased demand for export-related stocks.
Among this week's gainers, Tokyo Electron (8035) rose 13.32% and SoftBank (9984) rose 6.19%. Nissan Motor Co. (7201) and Sony rose 5.47% and 7.03%, respectively.
outlook
As central banks and Chinese government stimulus continue to be in the spotlight, traders should closely monitor news, real-time data, and expert commentary and adjust their trading strategies accordingly. Stay up to date with the latest news and analysis to manage your positions across Asian stock markets.
