Australian cash rate down

Source: Marketwatch
The Reserve Bank of Australia decreased the cash interest rate to 3.5 percent, from 3.75 percent in an attempt to protect the economy from growing global risks. On this news the aussie added 0.34 percent, reaching 97.61 U.S. cents. S&P/ASX 200 index extended earlier gain by 1.3 percent to 4035.50. The cash rate has been already cut in May by unexpectedly-high 0.5 percent. This decrease is supposed to push mortgage rates down and stimulate domestic growth. The rate followed the upward direction until late 2011 to prevent inflation. Now Australian central bank is one of the rare developed-economy central banks that has room for interest rate cuts.

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Tue, 05 Jun 2012 11:14:23 GMT

Hang Seng ends 0.4%

Hong Kong's shares slightly rebounded on Tuesday as investors hoped policy makers during G-7 discussion will come up with some measures to tackle debt crisis. Better China service PMI also contributed positively to the index. Hang Seng index climbed 0.4% or 73.44 points to 18,259.03. Wharf Holdings rallied 2% on report that the company had agreed with the Hong Kong

Tue, 05 Jun 2012 10:52:20 GMT

Nikkei 225 rebounds on weaker Yen

Japan's Nikkei Stock Average started recovering from previous steep losses on Tuesday after Yen depreciated against most of country's export partner currencies, particularly US Dollar and Euro. Nikkei 225 index jumped 1.04% or 86.37 points and settled at 8,382.00. Canon Inc advanced 3.4% after the company announced it would buy back $640 million of its outstanding shares. Fast Retailing plunged

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