Chinese stocks surged on Monday after officials unveiled further economic stimulus measures, while Wall Street indices concluded a buoyant quarter with new records.
But a profit-warning from auto giant Stellantis and from Britain’s Aston Martin sent shivers through the industry, adding to the temptation to lock in gains on the final trading session of the third quarter.
Shanghai’s stock market jumped more than eight percent — its best day since 2008 — while Hong Kong briefly leapt around four percent, a day before Chinese markets shut for the Golden Week holiday.
They extended a rally that began last week as Chinese officials announced fiscal measures, notably interest-rate cuts and relaxed rules on buying homes, aimed at igniting growth in the world’s second-biggest economy.
Developers were among the best performers in Hong Kong, with Kaisa rocketing more than…
