Blistering Rally: Chinese Stocks Soar On Stimulus Measures

Chinese stocks continued their impressive climb on Monday, marking the best month in nearly a decade. Beijing's aggressive stimulus initiatives to counter economic slowdown boosted key indexes, with property and consumer staples shares seeing significant gains. Analysts suggest this could signal a potential long-term bull market.

Chinese stocks extended their blistering rally on Monday, with mainland markets poised for their best month in nearly a decade. This surge follows Beijing's fresh stimulus measures aimed at arresting a broad economic slowdown.

Benchmark indexes in mainland China started the week strong, following their best weekly performance in nearly 16 years on Friday. The CSI300 blue-chip index was up over 6.22%, the Shanghai Composite surged 5.7%, and Hong Kong's Hang Seng Index rose 3.34%.

Property companies' shares soared after China's central bank announced it would instruct banks to lower mortgage rates for existing home loans, as part of extensive policies to support the struggling property sector. Additional measures included lifting home purchase restrictions in Guangzhou and easing buying curbs in Shanghai and Shenzhen.

(With inputs from agencies.)