PBOC euphoria in global markets
China’s central bank’s announcements on policy support and the interest rate step raised expectations of stimulus, while markets made a positive start to the week.
Expectations that China, the world’s second-largest economy, will provide a large-scale stimulus had a positive impact on the markets and pushed Asian shares up.
MSCI Asia Pacific made a positive start to the week led by China, Hong Kong and South Korea indices.
‘A bit of policy support’
According to Bloomberg HT’s report; Eastspring Investments’ Asian equity portfolio specialist Ken Wong commented on the move with the words “A bit of policy support definitely supports stocks”. US and European stock futures also made a positive start to the week.
Due to a public holiday in Japan, Japanese stocks and US bonds were not traded. The Dollar Index was flat at 1,224 points, while the yen lost 0.3 percent against the dollar.
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