with China.
MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.2 percent, 3 three straight days of gains. The key for markets now is whether pledges for more accommodative policy from Germany to China are enough to assuage concerns about the state of the global economy and end fears of recession. "Acknowledgment that downside risks have increased with no characterisation of 'somewhat' could be taken as confirmation that it is likely the Fed makes a larger cut in September," Zentner wrote in a note.
In addition, the central banks of the euro zone, Australia and China are all expected step open the monetary spigot further this year while Germany is considering fiscal stimulus.
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