Asian shares rise after China cuts interest rate
The news helped Shanghai blue chips recoup early losses to rise 0.8%, though the initial reaction was cautious overall
18 November 2019 - 08:01
Sydney — Asian shares ticked higher on Monday after Beijing surprised markets by trimming a key interest rate for the first time since 2015, stirring speculation that further stimulus was on the way for the world’s second-largest economy.
China’s central bank cut rates on seven-day reverse repurchase agreements by five basis points to 2.50%, a move that nudged the yuan higher while lowering bond yields...
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