- Dali prints found in London garage sold at auction
- ECB chief backs bank mergers amid UniCredit, Commerzbank talk
- China stocks soar on stimulus, but US and Europe retreat
- 100 dead in storm Helene damage, flooding across US southeast
- China stocks soar on stimulus, Europe slides on automaker woes
- German antitrust watchdog steps up monitoring of Microsoft
- Nepal's urban poor count cost of 'nightmare' floods
- E.Guinea, Gabon clash at ICJ over oil-rich islands
- New blow for UK's Starmer as growth data disappoints
- China's top banks to tweak mortgage rates to boost housing market
- Muslim women break taboos navigating east London's waterways
- Nepal dam-building spree powers electric vehicle boom
- More than 60 dead from storm Helene as rescue, cleanup efforts grow
- Dozens missing, 9 dead in migrant boat wreck off Spanish Canaries
- Death toll from Hurricane John hits eight in Mexico
- Storm Helene's toll rises as rescue and cleanup efforts gain pace
- SpaceX launches mission to return stranded astronauts
- Storm Helene kills 44, threatens more 'catastrophic' flooding as cleanup begins
- SpaceX set to launch mission to return stranded astronauts
- Storm Helene kills 44, threatens more 'catastrophic' flooding
- Boeing strike grinds on as latest talks fail to reach agreement
- Iran 'news' sites, hackers target Trump ahead of US election
- US ports brace for potential dockworkers strike
- Japan's speedy, spotless Shinkansen bullet trains turn 60
- US hurricane deaths rise to 44, fears of more 'catastrophic' flooding
- Global stocks mostly rise, cheering Beijing stimulus
- Europe en route for Moon with new simulator, says astronaut Pesquet
- Fireworks forecast if comet survives risky Sun flypast
- Argentina judge orders dictionary to delete pejorative definition of 'Jewish'
- Global stocks rise on rate hopes, Beijing stimulus
- S.African woman turns 118, among the oldest in the world
- UK clears $4 bn AI partnership between Amazon, Anthropic
- Barca fans barred from Champions League away game over racist banner
- Chinese stocks extend surge, Europe higher on Beijing stimulus
- Pope says Church must 'seek forgiveness' for child sexual abuse
- China caps week of 'bazooka' stimulus for ailing economy with rate cut
- Cuts, cash, credit: China bids to jumpstart flagging economy
- France's debt weighs heavier ahead of budget debate
- Iran treads carefully, backing Hezbollah while avoiding war
- Return to sender: waste stranded at sea stirs toxic dispute
- 'Broken' news industry faces uncertain future
- On remote Greek island, migratory birds offer climate clues
- Taken from mother by nuns, victim seeks answers as pope visits Belgium
- China cuts amount banks hold in reserve to boost lending
- Hong Kong, Shanghai extend surge as China optimism boosts markets
- Vietnam president reiterates support for Cuba during official visit
- Drought reduces Amazon River in Colombia by as much as 90%: report
- Stay or go? Pacific Islanders face climate's grim choice
- Florida bracing for 'unsurvivable' Hurricane Helene
- Poverty rises to over 52 percent in Milei's Argentina
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China stocks soar on stimulus, Europe slides on automaker woes
Chinese stocks rocketed Monday, extending last week's surge after China unveiled a raft of economy-boosting measures, while a weak outlook for the car sector sent European auto stocks tumbling.
Shanghai's stock market closed up 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 begun last week as China announced fiscal measures -- notably interest-rate cuts and eased 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 80 percent, Sunac jumping over 55 percent and Agile Group up 19 percent.
Tech firms also enjoyed strong gains, with e-commerce giant JD.com advancing more than 11 percent and rival Alibaba up almost eight percent.
"Another day, and another rally for Chinese stocks," said Kathleen Brooks, research director at XTB.
"The Chinese stock market rally will take a breather during the October holiday, which will give investors time to take stock and to decide whether the Asian powerhouse's shares have further to run," she said.
Elsewhere in Asia, stocks plunged nearly five percent in Tokyo on a strong yen. The Japanese currency has won support after Shigeru Ishiba was elected head of Japan's governing party last week.
Analysts said his win and imminent appointment as prime minister boosted expectations that the Bank of Japan would continue hiking interest rates, keeping the yen high which in turn has weighed on Japanese exporters.
In Europe, the Paris and Frankfurt stock markets retreated as major automakers lowered profit forecasts, partly owing to weakness in China.
Shares in Paris-listed Stellantis -- whose brands include Jeep, Fiat and Peugeot -- slumped nearly 15 percent in afternoon deals, with the group citing costs for improving its North America operations and increased Chinese competition for its woes.
Britain's Aston Martin also lowered its financial guidance for 2024, causing its shares to drop around 23 percent nearing the half-way mark.
This followed German auto giants Volkswagen, Mercedes and BMW all cutting outlooks in recent weeks.
"Aston Martin is a prime example of how China's economic woes have been making well-off Chinese consumers more cautious," said Susannah Streeter, head of money and markets at Hargreaves Lansdown.
"The property crisis has affected perceptions of wealth and put people off buying big-ticket items, like high-end cars," she said.
Shares in other major carmakers also suffered, with Renault losing six percent, Porsche 4.5 percent and Volkswagen 2.3 percent.
The London stock market took a hit from official data showing the UK economy grew less than initially estimated in the second quarter.
Investor focus is also expected to remain on the outlook for US interest-rate cuts after data last week revealed cooling inflation in the world's biggest economy.
The figures boosted hopes that the Federal Reserve would announce another rate cut at its next meeting, having slashed them by 50 basis points earlier this month.
Oil prices retreated Monday as high supplies offset further Middle East unrest with the killing of Hezbollah chief Hassan Nasrallah in Lebanon by an Israeli airstrike analysts said.
- Key figures around 1145 GMT -
London - FTSE 100: DOWN 0.7 percent at 8,262.93 points
Paris - CAC 40: DOWN 1.8 percent at 7,653.91
Frankfurt - DAX: DOWN 0.8 percent at 19,324.78
Tokyo - Nikkei 225: DOWN 4.8 percent at 37,919.55 (close)
Hong Kong - Hang Seng Index: UP 2.4 percent at 21,133.68 (close)
Shanghai - Composite: UP 8.1 percent at 3,336.50 (close)
New York - Dow: UP 0.3 percent at 42,313.00 (close)
Dollar/yen: UP at 142.51 yen from 142.15 yen on Friday
Euro/dollar: UP at $1.1201 from $1.1169
Pound/dollar: UP at $1.3403 from $1.3375
Euro/pound: UP at 83.56 pence from 83.47 pence
West Texas Intermediate: DOWN 0.7 percent at $67.77 per barrel
Brent North Sea Crude: DOWN 0.5 at $71.49 per barrel
C.Smith--CPN