Space For Rent

Space For Rent
Wednesday, April 1, 2015, Chaitra 18, 1421 BS, Jamadius Sani 10, 1436 Hijr

World Market & Commodity News
Asian shares rally after China easing
Published : Wednesday, 1 April, 2015,  Time : 12:00 AM,  View Count : 21
HONG KONG, March 31: Asian markets rallied Today, led by Hong Kong and Shanghai after China's decision to ease mortgage rules fuelled hopes for further stimulus measures, while improved confidence weighed on the safe-haven yen.
Traders were given another strong lead from Wall Street, where the three main indexes surged more than one percent, supported by the Chinese move while dealers are awaiting key US jobs data at the end of the week.
Hong Kong climbed 1.03 percent, Shanghai gained 0.88 percent Tokyo added 0.65 percent, Seoul put on 0.40 percent and Sydney jumped 1.40 percent after tumbling Monday.
Regional investors picked up where their counterparts in New York and Europe left off after the People's Bank of China on Monday lowered minimum downpayments on second homes from 60-70 percent to 40 percent in a bid to boost the slowing economy.
The announcement came after the bank's head Zhou Xiaochuan at the weekend hinted at fresh measures to fend off deflation, while Premier Li Keqiang said at the start of the month the government had the firepower to support the economy.
"Investors continue to work on the expectation that the People's Bank of China will deliver more policy reports in coming months and that the US (Federal Reserve) will be cautious about its policy deliberations," Matthew Sherwood, head of investment markets research in Sydney at Perpetual Ltd, told Bloomberg News.
On Wall Street the Dow rose 1.49 percent, the S&P 500 gained 1.22 percent and the Nasdaq advanced 1.15 percent. And in Europe the Frankfurt DAX 30 jumped 1.83 percent, the CAC 40 in Paris ended 0.98 percent higher and London's FTSE 100 climbed 0.53 percent.

Editor : Iqbal Sobhan Chowdhury
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