Thumbs up in Asia for China's stimulus package
The scale of the Rmb4 trillion fiscal package gives an immediate boost to regional stockmarkets amid hopes that it will help pad the effects of a global recession.
ChinaÆs plan to spend up to Rmb4 trillion $587 billion in the coming two years to boost domestic demand may take some time to have an actual impact on the economy, but it worked wonders as an immediate stimulus for the stockmarkets û locally and across Asia.
Share prices were pushed up throughout the region yesterday as investors anticipated that the plan, announced over the weekend, will lead to a pickup in Chinese demand for commodities and housing that will...
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