Asian Stock Market: China defends bulls from virus woes By anilpanchal7 Asia Equities RiskAppetite China Coronavirus
l leader and comments from the National Bureau of Statistics , as well as the People’s Bank of China rate cut, hint at further easy money policies. Even so, virus woes and fears of the faster Fed rate hike challenge the equity bulls.
It should be noted that the PBOC cut 1-year Medium-Term Lending Facility rate by 10 basis points to 2.85% before the China Q4 GDP rallied to 4.0% versus 3.6% expected and 4.9% previous readouts. Following the data release, NBS Head Ning Jizhe said that there was room for monetary policy to support growth while citing risks of big downside pressure on the economy.
Amid these plays, South Korea’s KOSPI drops over 1.0% as North Korea fired another ballistic missile whereas Indonesia’s IDX Composite declined 0.60% on softer trade numbers from Indonesia. Furthermore, India’s BSE Sensex remains indecisive around 61,270. Moving on, the key central bankers and top-tier data are likely to entertain investors during the current week. However, major attention will be given to the virus updates andInformation on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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