Asian markets spike after RBA rate cut

Note: This section contains information in English only.
Source: WBP Online
© FP
Asian stocks surged with Australia leading the trend on Tuesday, following a rate cut by the RBA. While Japanese markets closed for Constitution day, the Shanghai Composite index spiked by 1.4% to show 2 979.75 points at 5:00 GMT, while the Hang Seng index fell 1.1% and traded at 20 828.69 points at 5:00 GMT.
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Tue, 03 May 2016 11:29:05 GMT

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The Chinese Caixin manufacturing PMI showed a 0.3 point drop from the month before at 49.4 points, continuing the recessive trend that has pushed the measure in negative territory for the 14th consecutive month. The indicator was 0.4 points short of investors' expectations and it is thought that the economy is still in need for a solid recovery foundation.

Tue, 03 May 2016 08:05:09 GMT

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