Stimulus boosts Chinese stocks, eyes on the upcoming session

<p>Shares of US-listed Chinese ETFs are as much as 4.4% higher today after a broad stimulus push from Beijing.</p><p>Chinese President Xi Jinping visited the central bank and largest sovereign wealth fund today for the first time. It came with the approval of a boost to the fiscal deficit this year to 3.8% from 3.0%; adding some $137 billion in sovereign debt.</p><p>It came on a heavy news day from China where Li Shangfu was stripped of his title of defense minister and former foreign minister Qin Gang lost his remaining role as State Councilor.</p><p>The moves from China show a greater sense of urgency to boost the economy and achieve this year's 5% GDP target. The MCHI ETF is up 3% today while the KWEB China tech focused ETF rose by 4.4%.</p>

This article was written by Adam Button at www.forexlive.com.