Beijing pledges market stability as Shanghai and Hang Seng rise
Business
Chinese and Hong Kong stock markets got a small boost on Monday after China's government promised to steady things during a rough economic patch.
The Shanghai Composite nudged up 0.5%, and the Hang Seng climbed 0.2%, a sign that investors are feeling a bit more hopeful thanks to Beijing's reassurance.
Experts: China needs profits and demand
China's leaders are trying to calm shaky markets and weak spending at home, but experts say real recovery needs stronger company profits and more demand.
Even though manufacturing costs are rising (thanks to pricier oil), consumer prices have not jumped much because people are not spending as much.
For now, officials say they will keep rolling out policies to boost confidence and keep markets running smoothly.