[ad_1]
Chinese Stocks experienced a surge on Wednesday, driving regional markets higher and contributing to a global rally fueled by stimulus measures. This positive momentum also supported risk-sensitive currencies, while the dollar remained near a three-week high.

Mainland Chinese blue chips rose by 3.1%, following a 4.3% increase in the previous session. Hong Kong’s stock market climbed 2.2%, adding to the gains from the day before. The strong performance of Chinese Stocks inspired other regional indexes, with Taiwan and South Korea’s benchmarks also posting gains.

Asian-Pacific shares outside Japan rallied by 1%, while managed to recover from early losses to increase by 0.3%, aided by a decrease in the yen.

The People’s Bank of China announced a significant policy easing, including a cut to medium-term lending rates for banks, further supporting the Chinese stock market and the struggling property sector.

Investors are closely monitoring the developments in China, with many choosing to buy or cover short positions amidst the rally.

In the currency markets, the yen weakened against the dollar, while the euro and sterling made modest gains. The dollar remained under pressure after disappointing U.S. consumer confidence data raised expectations for another large interest rate cut by the Federal Reserve.

Gold prices rose to a new all-time high, reaching $2,662.50 per ounce. Meanwhile, Brent crude futures slipped slightly to $74.98 a barrel, with U.S. West Texas Intermediate crude also experiencing a minor decline.

Overall, the positive sentiment in Chinese Stocks, coupled with global stimulus measures, continues to drive market activity and support risk assets.

[ad_2]
Stocks-soar-in-stimulus-afterglow-dollar-sags-on-rate-bets-3631064″>SOURCE