{"id":585032,"date":"2024-10-08T07:23:16","date_gmt":"2024-10-08T07:23:16","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=585032"},"modified":"2024-10-08T14:23:41","modified_gmt":"2024-10-08T14:23:41","slug":"chinas-underwhelming-economic-stimulus-may-drive-investors-back-into-crypto-qcp-capital-says","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/chinas-underwhelming-economic-stimulus-may-drive-investors-back-into-crypto-qcp-capital-says","title":{"rendered":"China’s Underwhelming Economic Stimulus May Drive Investors Back Into Crypto, QCP Capital Says"},"content":{"rendered":"

The Chinese government’s failure to introduce more economic <\/span>stimulus<\/span><\/a> at its latest briefing today could lead to investors returning to the crypto market, QCP Capital said.<\/span><\/p>\n

“The rally in Chinese stocks fizzled following their week-long holiday as a government briefing failed to introduce new economic stimulus,” QCP said in an Oct. 8 post<\/a>. “<\/span>As the Chinese rally wanes, we anticipate capital reallocation back into crypto.” <\/span><\/p>\n

The investment firm added that it maintains a “medium-term optimistic stance” towards the crypto market and predicted that US election headlines will continue “driving crypto movement.”<\/span><\/p>\n

\"Funds<\/p>\n

Chinese Stocks Tumble Due To Lack Of Economic Stimulus Updates<\/span><\/h2>\n

Chinese investors anticipated that the National Development and Reform Commission (NDRC) would outline additional stimulus measures in a briefing today following the Chinese Golden Week holiday. <\/span><\/p>\n

But with no new <\/span>stimulus plans unveiled and the perception of a lack of urgency, underwhelmed investors took profits from the recent rally in Chinese and Asian stocks.<\/span><\/p>\n

Stocks linked to the Chinese stock market subsequently underwent a sharp pullback in the Asian trading hours of today’s session. Alibaba Group and JD.com saw their share prices drop around 8% and 12%, respectively. <\/span><\/p>\n

The MSCI AC Asia Pacific equity index also recorded its largest drop in a month. Meanwhile, Hong Kong equities suffered their biggest single-day loss since the 2008 market crash.<\/span><\/p>\n

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🩸BREAKING: <\/p>\n

Hong Kong's Hang Seng index crashes to worst day since 2008. pic.twitter.com\/37GxlSnq51<\/a><\/p>\n

— Radar🚨 (@RadarHits) October 8, 2024<\/a><\/p><\/blockquote>\n