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Asia morning: China cuts banks’ reserve ratio as economic growth sputters – Sep 27

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Today’s Market News

 

Key developments on Friday:

  • Tokyo inflation (September)
  • Japan leading indicators (July)
  • German unemployment (September)

 

Risk assets around the world are responding accordingly. The MSCI World and S&P 500 both hit new highs on Thursday.

Shanghai’s blue chip equity index is up 10.8% this week, its biggest weekly rise since December, 2014.

Hang Seng index’s 4% rally on Thursday brings its weekly gains to 9%, the most in 13 years. An index of mainland Chinese property stocks leapt 16%.

Expected on Fri will be a wave of profit-taking ahead of the weekend, especially as it is coming  quarter end, and Chinese markets closed Oct. 1-7 for the Golden Week.

On Friday Tokyo consumer price inflation for September, expected fairly sharp slowdown in the annual core rate to 2.0% from 2.4%.

 

Index Last Change % Change
trading higher

42,175.11 +260.36 0.62%Positive
trading higher

18,190.29 +108.09 0.60%Positive
trading higher

5,745.37 +23.11 0.40%Positive
Index Last Change % Change
trading higher

39,146.30 +220.67 0.57%Positive
unchanged

19,924.58
trading higher

85,836.12 +666.25 0.78%Positive

Source: LSEG, opens new tab – data delayed by at least 15 minutes

For more news visit Reuters.com