HONG KONG : Stocks in Asia fell on Tuesday as investors worried China's latest rate cut was not enough to boost confidence in the weakening economy and awaited a wider stimulus package by Beijing.China, in a highly anticipated move, cut two key benchmark lending rates for the first time in 10 months on Tu
HONG KONG : Stocks in Asia fell on Tuesday as investors worried China's latest rate cut was not enough to boost confidence in the weakening economy and awaited a wider stimulus package by Beijing.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.69 per cent. China's benchmark CSI edged down 0.03 per cent. U.S. markets were closed on Monday. The People’s Bank of China lowered the medium-term lending facility rate on Thursday last week. The market was speculating on what China could do next to revive the recovery but was disappointed by a lack of concrete measures from a cabinet meeting on Friday.
The delay in further stimulus measures weighed on sentiment and followed moves by a handful of big banks, including Goldman Sachs, to lower their growth forecasts for the Chinese economy.
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