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Asian shares advance, despite Wall Street's tumble, as China pledges to boost consumer spending

China's financial regulator has ordered banks to increase consumer lending and credit card use to build confidence among consumers worried about the economy.
Nayuki expects an adjusted net loss of up to 970 million yuan for 2024, attributing it to consumption headwinds and competition.
Xiabu Xiabu anticipates a 20 percent revenue decline for 2024, with pressure from a consumption downgrade impacting its brand.
China's consumer price index fell 0.7 percent in February 2024, reflecting ongoing issues in consumer spending and market confidence.

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somdnews.com

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Asian shares advance, despite Wall Street's tumble, as China pledges to boost consumer spending

Asian markets have shrugged off another decline on Wall Street, with markets in China advancing after banks and other financial institutions were ordered to do more to help spur more consumer spending. U.S. futures and oil prices advanced. Hong Kong's…

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