TOKYO - Asian stocks rode a Wall Street rally on Monday and were also cheered by a decision from China’s central bank to alter the way it sets a key interest rate benchmark, a move seen by analysts as reducing borrowing costs for companies.
The People’s Bank of China on Saturday unveiled key interest rate reforms to help steer borrowing costs lower for companies and support a slowing economy caught in the grip of a bruising trade war with the United States. “However, the reform is unlikely to have a stimulative effect on China’s property markets with the authorities still insisting on tight regulations to prevent the crowding-out effect from high home prices.”rose 1.6%. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS gained 1.1%.
“Sentiment in the markets appeared headed for a one-way rout, but policy hopes following reports of the German stimulus have helped halt the steady deterioration,” said Ayako Sera, senior market strategist at Sumitomo Mitsui Trust. The 10-year U.S. Treasury yield US10YT=RR stood at 1.582%, having pulled away from a three-year trough of 1.475% marked last week in the wake of global slowdown fears.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Philippines Latest News, Philippines Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asia stocks gain as China rates tweak lifts investor moodAsian stocks tracked the Wall Street rally on Monday and found an extra tailwind...
Source: Reuters - 🏆 2. / 97 Read more »
Asia stocks set to trade mixed as Treasury yields bounce higherStocks in Asia were set to trade mixed on Monday as U.S. Treasury yields bounced higher after plunging last week which sent markets into a panic.
Source: CNBC - 🏆 12. / 72 Read more »
Asia stocks rise as stimulus, policy hopes calm nervous investorsAsian stocks rose on Monday as hopes of more stimulus from central banks around ... Don't let bad credit stop you. Let us help you! Ready to change your life and increase that credit score and build a business Prepare to bring your score up NOW! DM me if you are interested on how to achieve your financial dreams. $BTC $ETH $LTC $ETC $XVG $XRP $BCH $TRX $XMR Everything can exist and be solved X
Source: Reuters - 🏆 2. / 97 Read more »
Small business confidence drops to a low as U.S.–China trade war rattles Main StreetSmall business owners across the nation are worried about the U.S.–China trade war. The CNBC|SurveyMonkey Small Business Survey for the third quarter finds confidence dropping to a level it has not seen since 2017, matching an all-time low. MakeIt Oh man. Well we should just keep losing hundreds of billions a year to China then.... MakeIt Still not the consumer LOL MakeIt 2007 50% no effect. 2019 49% no effect. so no effect. BTW, buy from elsewhere other than funding the superpower dictatorship in human history!
Source: CNBC - 🏆 12. / 72 Read more »