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Asian stocks traded cautiously and bonds fell on Thursday while investors waited on more detail of China's stimulus plans and for a European Central Bank meeting later in the session.
Asian stocks traded cautiously and bonds fell on Thursday while investors waited on more detail of China's stimulus plans and for a European Central Bank meeting later in the session. The Canadian dollar fell after the Bank of Canada held rates but dropped language that had said it was prepared for further hikes. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5% in early trade, with the Hang Seng opening 0.6% higher and mainland indexes steady.
China's central bank will cut the amount of cash that banks must hold as reserves from Feb. 5, the first such cut for the year as policymakers extend efforts to shore up a fragile economic recovery amid plunging stock markets.
Markets have been digesting the latest attempt by Chinese policymakers to inject some life into China's flatlining economy.
Global stock markets extended a New Year slide on Wednesday, while the dollar held firm, as market optimism about early U.S. interest rate cuts ebbed and the latest escalation of hostilities in the...