In remarks carried by the official Xinhua News Agency, Li said the government needs to provide more support for smaller companies, reduce taxes and fees, “do a good job in ensuring the supply and price stability of electricity and coal and take strong measures to support manufacturing.” Hong Kong’s Hang Seng index dropped 0.9% to 24,885.46 while the Shanghai Composite index lost 0.2% to 3,499.19.Ĭomments by Chinese Premier Li Keqiang about downward pressure on the economy also rattled investors.
The question is not so much one of tapering, which at this point seems a foregone conclusion, but more about the timing of future rate hikes,” Mizuho Bank said in a commentary. “Markets are largely in wait-and-see mode ahead of the U.S.
Those purchases are intended to keep long-term loan rates low to encourage borrowing and spending. The Fed’s chair, Jerome Powell, has signaled the Fed will announce after its policy meeting that it will start paring its $120 billion in monthly bond purchases as soon as this month.
