China mainland and Hong Kong stocks higher after Politburo stimulus pledge

<p>From China on Monday was the news of renewed economic support promises:</p><ul><li><a href="https://www.forexlive.com/news/china-pledge-to-step-up-policy-support-underpins-rally-in-oil-and-chinese-equities-20230724/" target="_blank" rel="follow" data-article-link="true">China pledge to step up policy support underpins rally in oil and Chinese equities</a></li></ul><ul><li><a href="https://www.forexlive.com/news/on-monday-china-promised-more-stimulus-another-promise-or-for-real-this-time-20230724/" target="_blank" rel="follow" data-article-link="true">On Monday China promised more stimulus. Another promise, or for real this time?</a></li><li><a href="https://www.forexlive.com/centralbank/rate-cuts-tax-cuts-fee-reductions-expected-from-china-says-state-sponsored-finance-media-20230725/" target="_blank" rel="follow" data-article-link="true">Rate cuts, tax cuts, fee reductions expected from China says state-sponsored finance media</a></li></ul><p>In addition to higher yuan Chinese stocks are also higher. </p><p>'Hong Kong's Hang Seng is up around 3% while the Shanghai Composite is up around 1.5%.</p><p>The announcement effect is impacting, traders will later be waiting on specifics. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.