China’s Stocks Rise on Aid for Property, but Japan Falls – Asia Market Wrap

Chinese and Hong Kong stocks rose sharply on Monday on Beijing’s latest moves to address the country’s housing problem. Stocks in other Asian markets fell as Japan’s benchmark plunged.

The CSI 300 index was on track for its greatest daily increase in 16 years, while iron ore and Chinese developer stocks rose after three major cities relaxed property buying restrictions. The MSCI Asia Pacific index fell due to a drop in Japanese stocks following Shigeru Ishiba’s victory in the Japanese ruling party’s leadership campaign, which caught investors off guard.

European and American stock futures varied between gains and losses.

Investors are entering the fourth quarter of the year as the prognosis for financial markets brightens following China’s stimulus measures, and central banks from Indonesia to Europe and the US begin decreasing interest rates to promote growth.

The Yen reduced its earlier session gains, while anticipation for Chinese stimulus boosted the Australian and New Zealand dollars. Oil was stable on Monday, as the market waited to see how Iran would respond.