IMF Investors expect powerful stimulus from China this year

News Snapshot:

Beijing has set its annual growth target at about 5 per cent, but economists are increasingly doubtful it will meet that level after a run of disappointing data amid a worsening property slump. “The [PMI] data seems to be converging on a point close to 50 consistent with an economy that is neither expanding nor contracting,” said Robert Carnell, regional head of research at ING. “Things could be worse, but markets are not likely to take too much comfort from [the] data.” The Australian dollar briefly popped above US65¢ in a relief rally on Thursday and steadied at US64.85¢. Still,...