Asian stocks traded mixed this morning, with Chinese and Hong Kong markets rising sharply, spurred by rare fiscal measures from Beijing to address the ongoing severe liquidity crunch in the domestic property market as well as to stem the stock market's sell-off.
China's national legislature has just approved a budgetary plan to raise the fiscal deficit ratio for 2023 to about 3.8 percent of its GDP - well above the 3 percent set in March.
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