News

SHANGHAI/SINGAPORE (Reuters) -Chinese stocks swept to their biggest single-day gains in 16 years on Monday, with domestic A-shares registering their highest ever turnover, as investors scrambled to join a searing rally sparked by Beijing's latest raft of stimulus measures. That took its five-day gains since last Tuesday, when Beijing began rolling out stimulus measures to arrest a slowdown in the broader economy, to 21.4%, the strongest since 1996. It was also the best single-day percentage gain for both the CSI and SSEC indexes since 2008.

Global markets had a wild start to the week, with Tokyo’s Nikkei 225 index tumbling nearly 5% while Chinese markets soared on news of fresh stimulus for the faltering economy, with Shanghai up more than 8%. In early European trading, France’s CAC 40 slipped 1.0% to 7,711.66, and Germany’s DAX lost 0.4% to 19,399.02. Japanese shares sank after the ruling Liberal Democrats chose former Defense Minister Shigeru Ishiba late Friday to succeed Prime Minister Fumio Kishida, who is due to step down on Tuesday.

(Bloomberg) -- South African stocks are having their strongest third quarter for 11 years and investors see the gains extending.Most Read from BloombergA 7,000-Year-Old City Emerges as a Haven from Dubai’s Sky-High RentsClimate Migrants Stand to Overwhelm World’s MegacitiesNew Rowhouses in London That Offer a Bridge to the 19th CenturyVanderbilt Leases Struggling NYC Seminary for Campus ExpansionNJ Transit, Amtrak Trains Delayed After Derailment Near NYCThe FTSE/JSE Africa All Share Index is up

PARIS (Reuters) -Stellantis NV on Monday slashed its annual forecasts and said it would burn through more cash than expected, citing worsening trends in the industry, higher costs to overhaul its U.S. business and Chinese competition on electric vehicles. In warning about lower than expected profits, Stellantis joins rivals BMW, Mercedes and Volkswagen, which only days ago cut its annual outlook for the second time in three months. British luxury carmaker Aston Martin also issued a full-year profit warning on Monday citing supply chain disruptions and weakness in China.

Animal spirits are back in China's stock market as investors rush into equities, galvanized by Beijing's policy bonanza and driven by fear of missing out on what some see as a rally of historic intensity. Brokerages are bustling with retail clients and a burst of orders is jamming trading systems as investors rotate money out of bonds and deposits into stocks, leading to an explosion in stock turnover and a jump in yields. "Deposit rates are too low, and real estate investment is no longer safe," said 30-year-old office worker Darren Wang, who started buying stocks using borrowed money.

(Bloomberg) -- A stronger-than-expected pivot to stimulus in the world’s two biggest economies has brightened the market outlook. For economists, the jury is still out. Most Read from BloombergA 7,000-Year-Old City Emerges as a Haven from Dubai’s Sky-High RentsClimate Migrants Stand to Overwhelm World’s MegacitiesNew Rowhouses in London That Offer a Bridge to the 19th CenturyVanderbilt Leases Struggling NYC Seminary for Campus ExpansionNJ Transit, Amtrak Trains Delayed After Derailment Near NYCC

(Bloomberg) -- When it comes to Chinese equities, the dominant feeling has turned to optimism. Most Read from BloombergA 7,000-Year-Old City Emerges as a Haven from Dubai’s Sky-High RentsClimate Migrants Stand to Overwhelm World’s MegacitiesNew Rowhouses in London That Offer a Bridge to the 19th CenturyVanderbilt Leases Struggling NYC Seminary for Campus ExpansionNJ Transit, Amtrak Trains Delayed After Derailment Near NYCThe nation’s bazooka stimulus announced last week has pushed a gauge of Chi