Asia shares rise after China cuts interest rate
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.
On Saturday, Chinese state media said the two sides had “constructive talks” on trade in a high-level phone call that included Vice-Premier Liu He, US trade representative Robert Lighthizer and treasury secretary Steven Mnuchin. The dollar edged up on the safe-haven yen to 108.81, after bouncing on Friday. Chart support lies at 108.23 with stiff resistance at 109.48.
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