Australian stocks dropped 1.04 per cent due to concern that ties with China will worsen further after a report that Australian regulators will reject acquisitions by a Chinese company. — Reuters pic
Shares in China fell 1.28 per cent due to dwindling expectations for additional monetary easing after the People’s Bank of China kept a benchmark lending rate unchanged on Thursday. The iPhone maker’s shares rose 1.4 per cent to make the first publicly listed US company reach US$2 trillion in market capitalisation, while strong results from retailers Target and Lowe’s also lifted sentiment.
“We’ve seen some good numbers out of retail but there’s uncertainty that these companies won’t replicate those earnings without some stimulus.”
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