Chinese Stocks Supported by Stimulus, Asian Markets Recover World Finance News


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Chinese stocks rose on Tuesday after the government vowed more measures to support economic growth, while most other Asian equities recovered slightly from recent losses. China’s bluechip Shanghai Shenzhen CSI 300 index rose 0.5%, while the Shanghai Composite index added nearly 1%. Beijing on Monday vowed to ramp up stimulus efforts in the third quarter, as the country struggles with slowing growth in the face of COVID-19 lockdowns and a potential energy shortage. The People’s Bank of China also announced a cut to the amount of foreign exchange required to be held by local institutions, indicating that the government plans...