Why IMU is a multi multi bagger, page-30232

China is to announce a stimulus package today. At the moment, ASX mining stocks are leading the rises on the ASX - but hopefully, other sectors will follow. Given that IMU has patent protection in China (and India) now, we have to hope that IMU may get a small pull along.

Lunch Wrap: Miners, energy stocks rally as China gears up to announce fresh stimulus today - *

The ASX was looking pretty good this morning, kicking off the week with a nice lift of 0.6%.

Mining stocks were the top performers after China promised a bunch of new measures to ramp up consumption.

Wall Street also had a decent rally on Friday, but its main index, the S&P 500, still ended up in correction territory, down 10% from its recent peak.

“Any day without a Trump tariff comment is a good day for the market,” said Ed Yardeni at Yardeni research firm.

“We will be more inclined to call a bottom when we see the stock market move higher on a day or days when Trump blusters about tariffs again.”

Analysts at Macquarie also remain cautious, warning that unless Trump eases up on trade wars, the US economy could slow further, which would likely drag equity markets down another 20%.

Back on the ASX, China’s plans to boost real incomes fired up the market, with Aussie miners leading the charge.

The announcement of new measures (set for later today) to ramp up domestic consumption also added to the positive sentiment.