⚠️BREAKING: *ASIAN STOCKS END MOSTLY HIGHER ACROSS THE REGION AS CHINA RATE CUTS OFFSET HAWKISH FED OUTLOOK 🇯🇵🇦🇺🇨🇳🇭🇰🇰🇷🇮🇩🇮🇳
indexes rose 0.7% and 0.3%, respectively, after the People’s Bank of China cut rates on its medium-term loans.
The move follows a cut in the bank’s short-term loan rates earlier this week, and potentially heralds a cut in the PBOC’s benchmark next week, unlocking more liquidity in the Chinese economy as the government looks to spruce up a slowing economic recovery.
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