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04-20-2015, 11:00 PM
Stocks firm after China stimulus, euro hit by Greek anxiety
[Reuters] - Asian stocks were firm on Tuesday after China's latest step to prop up its faltering economy lifted global equities, while the euro was pressured on growing worries a cash-strapped Greece may default on its debt. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3 percent, with the dollar's gains against some Asian currencies offsetting a rise in stock prices in local currency terms. China's central bank on Sunday cut the amount of cash banks must hold as reserves in its latest attempt to spur lending and combat a slowing economy. "China's action undid the damage caused by the crackdown (on speculative buying in Chinese stocks on Friday)," said Hirokazu Kabeya, chief global strategist at Daiwa Securities.
Stocks firm after China stimulus, euro hit by Greek anxiety - Yahoo Finance (http://us.rd.yahoo.com/finance/news/rss/story/*http://finance.yahoo.com/news/asian-stocks-steady-china-stimulus-004939201.html)
[Reuters] - Asian stocks were firm on Tuesday after China's latest step to prop up its faltering economy lifted global equities, while the euro was pressured on growing worries a cash-strapped Greece may default on its debt. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3 percent, with the dollar's gains against some Asian currencies offsetting a rise in stock prices in local currency terms. China's central bank on Sunday cut the amount of cash banks must hold as reserves in its latest attempt to spur lending and combat a slowing economy. "China's action undid the damage caused by the crackdown (on speculative buying in Chinese stocks on Friday)," said Hirokazu Kabeya, chief global strategist at Daiwa Securities.
Stocks firm after China stimulus, euro hit by Greek anxiety - Yahoo Finance (http://us.rd.yahoo.com/finance/news/rss/story/*http://finance.yahoo.com/news/asian-stocks-steady-china-stimulus-004939201.html)