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2022-07-28
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The United States, Europe and Japan introduced new measures and the global stock market rose

the United States, Europe and Japan introduced new measures and the global stock market rose

China Construction Machinery Information

Guide: the United States, the European Union and Japan introduced new market rescue measures to alleviate the adverse impact of the financial crisis on their respective economies. In the face of multiple positive news, the global stock market continued to rise on the 30th. The U. S. Federal Reserve decided on the 29th to cut the federal funds rate, that is, the overnight lending rate of commercial banks, from 1.5 percent

winding process of continuous fiber reinforced thermoplastic composites the United States, the European Union and Japan have introduced new market rescue measures to alleviate the adverse impact of the financial crisis on their respective economies. In the face of multiple positive news, the global stock market continued to rise on the 30th

the US Federal Reserve decided on the 29th to cut the federal funds rate, that is, the overnight lending rate of commercial banks, from 1.5% to 1%. This is the second interest rate cut by the Federal Reserve this month and the ninth since the full outbreak of the US subprime mortgage crisis last year

at the same time, the US Treasury Department said on the 29th that as part of the US $700billion rescue plan, the US government has completed the transaction of spending US $125billion to buy shares in nine major US banks, which makes a big difference between foreign and domestic banks. According to the data released by the US Treasury Department, Citigroup, Wells Fargo Bank and JPMorgan Chase sold us $25billion of shares to the US Treasury Department respectively, Bank of America sold us $15billion of shares, and Goldman Sachs Group, Morgan Stanley and Merrill Lynch sold us $10billion of shares respectively. In addition, State Street bank and Bank of New York Mellon sold $2billion and $3billion respectively

On the 29th, the European Commission announced that it would introduce a comprehensive economic recovery plan to avoid the real economy being hit hard by the financial crisis

the European Commission held a plenary session on the same day to discuss the financial crisis and the EU economic outlook. After the meeting, President Barroso of the European Commission said that the financial crisis has not yet ended, and its impact on the European real economy is intensifying. To this end, the European Commission will issue a comprehensive economic recovery plan on November 26 to prevent a serious economic slowdown

the Central Bank of Korea announced on the 30th that it had signed a currency swap agreement with the Federal Reserve with a ceiling of $30billion. The agreement will be valid until april30,2009. Affected by this, the exchange rate of the Korean won against the US dollar surged by 12.4% on the 30th in the Korean foreign exchange market, the largest one-day increase in history

in addition to South Korea, the central banks of Brazil, Mexico and Singapore also signed similar currency swap agreements with the Federal Reserve on the same day to obtain US dollar funds

in response to the adverse impact of the international financial crisis on Japan, Japanese Prime Minister Taro Aso announced an economic stimulus package totalling 26.9 trillion yen on the 30th

according to the plan, the Japanese government will provide cash subsidies to all Japanese families by the end of March next year, with a total amount of 2trillion yen. The Japanese government will also provide credit guarantee for troubled small and medium-sized enterprises with oil injection holes on their seats, reduce the payment standard of unemployment insurance fees and cut highway tolls. In addition, the program also includes subsidies for Japanese farmers, tax cuts and encouraging enterprises to increase employees

influenced by the Fed's interest rate cut and other factors, the major stock markets in the Asia Pacific region continued to rise on the 30th. On the same day, the Nikkei 225 Stock Average Price Index of Tokyo stock market soared 817.86 points to close at 9029.76 points, up 9.96%. Hong Kong, China equities (Hang Seng) rose 1627.78 points, or 12.82%, to 14329.85. Singapore equities (STI) rose 130.71 points, or 7.82%, to close at 1801.91. Major stock indexes in Seoul, South Korea, Chinese Taipei, Manila, the Philippines, Jakarta, Indonesia and Sydney, Australia also rose

on the same day, most of the major stock markets in Europe and the United States also rose. Among them, the DAX index of Frankfurt stock market rose by nearly 4%

in the United States, as the decline of the U.S. economy in the third quarter of this year was lower than the market expectation, the three major stock indexes rose after the opening of the New York stock market that day, with an increase of more than 2% at one time. According to the preliminary data released by the US Department of Commerce, the US economy fell by 0.3% at an annual rate in the third quarter of this year, which was lower than the 0.5% expected by the market. Affected by this, after the opening of the New York stock market that day, the three major stock indexes rose rapidly, and the Dow Jones 30 industrial stock average price index once rose more than 250 points

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