Asian stocks wobble as China rate cut fails to calm nerves

Source: Marketwatch
© ScanPix/AFP
Stock markets showed mixed results on Wednesday, with Chinese equities extending the decline, as investors' confidence remained frail despite the fresh monetary stimulus from the PBoC. The Shanghai Composite failed to rebound and closed down 1.3%, after turning sharply lower in the final 10 minutes of trading. Elsewhere, Japan's Nikkei rose 3.2%, the Australian S&P ASX advanced 0.69%, while Hong Kong's Hang Seng dropped 0.68%.
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