Chinese Stocks Soar as Beijing Unleashes Major Stimulus Measures

Chinese stocks surged on Monday, culminating a month-long rally propelled by Beijing's aggressive stimulus measures. Benchmark indexes in China and Hong Kong posted significant gains, with the CSI300 blue-chip index and the Shanghai Composite Index experiencing their best performance in nearly a decade. Property stocks led the surge following policy changes aimed at revitalizing China's real estate market.

Chinese stocks soared on Monday, capping a month-long rally driven by a series of aggressive stimulus measures from Beijing aimed at reviving the slowing economy.

Benchmark indexes in mainland China and Hong Kong began the week with solid gains. The CSI300 blue-chip index rose more than 6.22%, while the Shanghai Composite Index jumped 5.7%. Hong Kong's Hang Seng Index climbed 3.34%, reflecting investor optimism.

Property stocks led the surge after China's central bank announced it would direct banks to reduce mortgage rates for existing loans. Cities like Guangzhou and Shanghai lifted restrictions on home purchases, further bolstering the market. The CSI300 index was on track to post an 18% monthly gain, its best since December 2014, while the Shanghai Composite aimed for a 14.8% rise, its strongest since April 2015.

(With inputs from agencies.)