China and Laos continue to build closer ties.
Category: China
China’s stimulus package may help support sales of Japanese farm equipment, Brazilian iron ore and California machine tools, taking some of the edge off what might be the worst global recession in three decades.
The ripple effect of the $586 billion plan announced on Nov. 9 underscores China’s increasingly important role in the world economy as its policy makers work to keep the country’s growth close to 8 percent in 2009. Merrill Lynch & Co. said expansion would have cooled to 5 percent without the program from 9.5 percent this year.
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Marketwatch looks at who wins and who loses from the massive US$586 billion China stimulus package.
Led by miners and other commodities-related stocks, Asian and European markets rallied after Beijing unveiled the package, which is heavily focused on infrastructure spending.“While unlikely to have an immediate effect, this is clearly to be positive for sentiment and, in time, commodity demand,” said analysts at Numis Securities.
Crude oil futures first surged over 7% before settling more than 2% higher, and corn futures also gained nearly 2%.
Gold gained $12.
China boosts Asian, European Stocks
China’s massive stimulus package helps Asian and European stock markets.