Market Outlook: China Injects Billions into Stock Market
Chinese authorities have announced measures to support the country's struggling stock markets by injecting hundreds of billions of yuan per year from state-owned insurers' funds. The move comes amid declines in major share markets, with China's CSI300 blue-chip index and Shanghai Composite Index initially surging over 1% before pulling back.
The news from China provided limited support to Asia-Pacific shares outside Japan, which retreated after a streak of gains. European and U.S. markets are expected to open lower, potentially reflecting diminishing enthusiasm for Trump's proposed $500 billion investment in artificial intelligence infrastructure.
In other market news:
* Norges Bank is expected to hold rates steady at its rate decision.
* Bank of Japan concludes its two-day policy meeting, with a 25-basis-point rate hike largely priced in.
* The yen continues to retreat from its one-month high.
* Key data releases include U.S. weekly jobless claims and earnings reports from American Airlines and General Electric.