GM (GM), Ford (F) Shares Higher Following New China Stimulus Measure
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General Motors (NYSE: GM) and Ford (NYSE: F) shares are indicated higher early Tuesday following reports China might institute a new "cash-for-clunkers" program.
According to Bloomberg, one government official said details of the plan -- like types of cars to be traded in as well as amount of funding the state would issue -- have yet to be determined.
News comes following speculation Chinese officials are taking further steps to boost demand in the economy following signs of moderate slowdown in growth over the last few months.
Another report out Tuesday has China's official Xinhua News Agency saying there won't be another large stimulus like the one issued three years ago. The new effort is one aimed more at growth stabilization.
GM shares are up about 0.2 percent while Ford's stock is indicated 0.8 percent stronger. Both have joint ventures in China.
According to Bloomberg, one government official said details of the plan -- like types of cars to be traded in as well as amount of funding the state would issue -- have yet to be determined.
News comes following speculation Chinese officials are taking further steps to boost demand in the economy following signs of moderate slowdown in growth over the last few months.
Another report out Tuesday has China's official Xinhua News Agency saying there won't be another large stimulus like the one issued three years ago. The new effort is one aimed more at growth stabilization.
GM shares are up about 0.2 percent while Ford's stock is indicated 0.8 percent stronger. Both have joint ventures in China.
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