China rates tweak boosts Asia stocks

People stand in front of an electronic board showing a China stocks advertisement outside a brokerage in Tokyo, Japan. Picture: REUTERS/TORU HANAI

That move helped Chinese stocks lead regional gains on Monday amid a broadly more upbeat investor mood. Hopes that major economies will seek to prop up slowing growth with fresh stimulus have helped ease some of the recessionary fears unleashed in markets last week. In China, the Shanghai composite index rose 1.5%. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 1%.

The Japanese currency last traded at 106.375 per dollar, having pulled back from a seven-month peak near 105.000 reached a week ago when events including unrest in Hong Kong and a meltdown in Argentina’s markets triggered a fresh bout of anxiety in markets already shaken by the US-China trade war. Elsewhere in currencies, the dollar index against a basket of six major currencies hovered near a two-week high of 98.339 climbed on Friday. The index was supported as US Treasury yields bounced back from recent lows in the wake of German stimulus hopes.

“This week’s main event is the Jackson Hole symposium and Fed chairman [Jerome] Powell’s speech,” said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Chamisa to visit Russia, China to ask help in settling Zimbabwe's political crisis | IOL NewsMDC leader Nelson Chamisa intends to pay visits to Moscow and Beijing to seek help in settling the political crisis that has been gripping Zimbabwe.
Source: IOL - 🏆 46. / 51 Read more »

Tweak the education system to cure the challenge - Xolile SizaniCity Press caught up with Xolile Sizani, CEO of Servest, in Midrand, and talked about his journey and what kept him away from the bad things young people often find themselves caught up in.
Source: City_Press - 🏆 7. / 72 Read more »

Reserve Bank could hold off on more interest rate cuts this yearMonetary policy committee could decide to play it safe
Source: BDliveSA - 🏆 12. / 63 Read more »

ECONOMIC WEEK AHEAD: Waning inflation is a sign of an economy under pressureLarge drop would strengthen the odds of another interest rate cut when the Bank meets in September
Source: BDliveSA - 🏆 12. / 63 Read more »

Waning inflation is a sign of an economy under pressureLarge drop would strengthen the odds of another interest rate cut when the Bank meets in September
Source: BDliveSA - 🏆 12. / 63 Read more »

ECONOMIC WEEK AHEAD: Waning inflation is a sign of an economy under pressureLarge drop would strengthen the odds of another interest rate cut when the Bank meets in September
Source: BDliveSA - 🏆 12. / 63 Read more »