MSCI’s gauge of Asia-Pacific stocks outside Japan slightly up
Hong Kong — Asian shares rose on Tuesday morning after China pledged to make renewed efforts to boost its economy on Monday, while investors pinned hope on more clarity ahead of a number of central bank meetings.
China also cut a foreign exchange reserves ratio to support the yuan, another signal authorities are uncomfortable with the currency’s slide. “The focus is on RBA today,” said Milroy. “Like everyone we are expecting 0.5% cash rate rise. However also expecting and hoping we get some commentary that they are nearing the end of their rising cycle.”
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