Worrying economic data out of China had raised expectations in recent weeks that Beijing would respond with stimulus measures in an effort to stabilize growth.
The State Council obliged late Wednesday, announcing a slate of new measures including railway and urban redevelopment projects, along with a tax break for small businesses.
Market reaction on Thursday was muted. After an initial boost, the Shanghai Composite ended the day in negative territory. Hong Kong's Hang Seng was little changed.
There are MORECharles Riley - Apr 2, 2014 11:16 PM ET
China's tech companies are in the middle of an ambitious spending spree that will push the industry into new businesses and potentially remake large swaths of the country's economy.
While the flurry of acquisitions and investments can't match the sticker shock of Facebook's (FB) recent $19 billion acquisition of WhatsApp and $2 billion purchase of virtual reality gaming firm Oculus, they suggest incredible ambition, especially in the cases of Alibaba and Tencent.
Alibaba, led MORECharles Riley - Mar 31, 2014 9:59 PM ET
Facebook is joining a new social network -- the Nasdaq-100 to be precise.
The California-based social media company will join the elite index on Dec. 12, replacing Infosys, an Indian tech company that is moving its U.S. listing to the New York Stock Exchange.
The move is not exactly a surprise. The Nasdaq-100 includes the 100 largest non-financial securities trading in the market. And with a market capitalization of around $60 billion, Facebook MORECharles Riley - Dec 4, 2012 11:41 PM ET
HSBC reported Monday that it turned a profit of $5 billion in the third quarter, a figure held down by the scandal-plagued bank's efforts to absorb a series of fines and penalties.
The London-based firm set aside $800 million to pay fines that may result from the bank's alleged links to drug cartels and terrorist groups. In the second quarter, the bank set aside an initial $700 million for the same MORECharles Riley - Nov 5, 2012 5:32 AM ET
Shares of Panasonic dropped almost 20% in early trading in Tokyo Thursday after the electronics company posted a loss and dramatically lowered its forecast for the year.
One of the world's largest television manufacturers, Panasonic has been shedding jobs for years amid slack demand. The Japan-based company said Thursday it was suspending its dividend, and that business conditions are expected to become "much more severe."
The company also said it expects a MORECharles Riley - Oct 31, 2012 11:48 PM ET
China's unofficial boycott of Japanese products found another victim Monday, after Honda said it expects to report lower income for the fiscal year.
The automaker lowered its net income forecast for the year ended March 20 to $4.7 billion from the previous estimate of $5.9 billion, saying it expects less income from affiliates in China.
Honda shares trading in Tokyo dropped almost 5% on the news. The company also lowered its forecast for MORECharles Riley - Oct 29, 2012 4:20 AM ET
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