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    Home»Stock Market»Stock market today: China mainland shares rise on rate cut
    Stock Market

    Stock market today: China mainland shares rise on rate cut

    October 21, 20243 Mins Read


    China’s mainland shares posted modest gains as a central bank lending rate cut boosted real estate stocks, but investors awaited more details on government stimulus.

    • S&P 500 Futures: 5,903.50 ⬇️ down 0.04%
    • S&P 500: 5,864.67 ⬆️ up 0.40%
    • Nasdaq Composite: 18,489.55 ⬆️ up 0.63%
    • Dow Jones Industrial Average: 43,275.91 ⬆️ up 0.09% 
    • FTSE 100: 8,386.32 ⬆️ up 0.34%
    • CSI 300: 3,935.20 ⬆️ up 0.25%
    • Nikkei 225: 38,954.60 ⬇️ down 0.07%
    • Bitcoin: $68,482.11 ⬇️ down 0.71%

    China: Shares rise after bank rate cut aids real estate shares

    China shares rose modestly Monday after the People’s Bank of China cut its one-year and 5-year prime lending rates in a welcome but expected move for traders. The CSI 300, which tracks the 300 top stocks on the Shanghai and Shenzhen exchanges, rose 0.25%, while its housing subset, the CSI 300 Real Estate Index, gained 1.02%. Hong Kong’s Hang Seng dropped 1.57% despite a rise in real estate shares.

    Japan: Shares slip despite rise in tech stocks

    The Nikkei 225 slipped 0.07% as a rise in technology stocks couldn’t overcome broader drops in the financial and industrial sectors. Factory automation tech firm Keyence and chip-testing equipment maker Advantest rose 1.66% and 2.67%. respectively. The country’s Oct. 27 elections have investors hedging their bets as they wait to see whether the ruling Liberal Democratic Party will win a majority.

    Europe: Shares post small gains as energy stocks lead the way

    European stocks moved into positive territory early Monday as oil and gas sector shares led the way, with Shell, TotalEnergies and BP all posting gains of more than 1% in morning trading. Shares in JDE Peet’s surged over 15% after the beverage company announced that Kraft Heinz executive Rafael Oliveira would be its next CEO and German conglomerate JAB said it would acquire Mondelez’s share in the JDE Peet’s in a $2.4 billion deal. The Stoxx Europe 600 was flat, while the FTSE 100 rose 0.34% around 10:30 a.m. CET.

    U.S. premarket mixed as investors await big week

    U.S. markets were mixed in premarket trading Monday, after Netflix’s blowout earnings sent its stock soaring 11% Friday, helping U.S. stocks finish an up week on a high note, with the Dow Jones Industrials and S&P 500 hitting records. Investors will be paying special attention to Tesla and Boeing earnings on Wednesday as they look for a reason for optimism at the EV giant after its robotaxi reveal underwhelmed investors—and search for any reason for hope at all at the embattled planemaker.

    And earnings season continues…

    It’s a huge earnings week, with 112 of the S&P 500 reporting. Tesla, Coca-Cola and Boeing report Wednesday.



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