Global Markets Surge Amid China’s Stimulus Measures

Global stock indexes and commodities saw significant gains after China announced economic stimulus measures. The Dow, S&P 500, and Nasdaq reached record highs as mining stocks surged, driven by lowered borrowing costs and other economic support measures from China. The yuan also strengthened against the dollar.

A globally monitored stock index surged to a historic peak, and copper prices hit a 10-week high on Tuesday following China's unveiling of economic stimulus measures. The Dow and S&P 500 closed at record highs, bolstered by a rally in mining stocks.

China's central bank chief, Pan Gongsheng, revealed plans to lower borrowing costs and inject more funds into the economy, easing mortgage repayment burdens for households. Wall Street saw significant gains in copper and lithium mining stocks; Freeport-McMoRan climbed 7.9%, Southern Copper 7.2%, and Albemarle advanced 1.97%.

The Dow Jones Industrial Average ascended by 83.57 points (0.20%) to 42,208.22, while the S&P 500 increased by 14.36 points (0.25%) to 5,732.93, and the Nasdaq Composite rose by 100.25 points (0.56%) to 18,074.52. The global MSCI stock index also reached a record high, and commodities such as U.S. crude, Brent, and copper witnessed significant price hikes.

(With inputs from agencies.)