Metals Buoyed by China Politburo But Actual Policy Still to Come
- Property market support a highlight of meeting on Monday
- Pro-growth shift in tone evident but no big stimulus unveiled
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A meeting of China’s top decision-making body flagged more help for commodities, but stopped short of unveiling any big-bang stimulus that would have given markets a sharp jolt.
Providing more support for the beleaguered property sector and reducing the local-government debt burden were key messages from the meeting of the Communist Party’s Politburo on Monday, according to a readout from Xinhua. There was, however, no language indicating major fiscal or monetary loosening.