What explains the rise in stock in last few trading sessions?
Prices of iron ore futures gained, as prospects of fresh Chinese monetary stimulus and lower inventories overshadowed concerns of the top consumer’s weakening domestic demand.
China’s central bank unveiled a broad package of monetary stimulus measures to revive the world’s second-largest economy, underscoring mounting alarm within Xi Jinping’s government over slowing growth and depressed investor confidence.
People’s Bank of China (PBOC) to cut Reserve Requirement Ratio (RRR) by -50 bps and to provide 1 trillion yuan in fresh new liquidity.
China to lower rates on existing home mortgages by around -50 bps.
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