Asian shares ticked higher on Monday after Beijing surprised markets by trimming...
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.
Beijing’s latest policy shift added to hopes it might also be more serious about making progress in trade talks with the United States. “We have upgraded our outlook on equities as an asset class,” he added. “Emerging market equities are now our most favored region alongside U.S. large cap equities.”In currency markets, the dollar was little changed against its main peers on Monday and well within recent tight trading ranges. Indeed, volatility in the market has been the lowest in decades recently and shows no sign of shifting., after bouncing on Friday. Chart support lies at 108.23 with stiff resistance at 109.48.
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