Reuters
China’s stock rose to a two-year high monday after the country’s central bank announced $101 billion in new stimulus measures.
China’s Shanghai compound rose 2.3% to 3,438.80, the last time it reached this point in January 2018.
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Chinese actions may also have been driven through a delay in considering the Phase 1 industry agreement between the United States and China, scheduled for Saturday.
The sources told Reuters that the explanation of why the postponement between the conflicting schedules between the two parties and the preference to give China more time to fulfill its commitments to acquire the quantity of U.S. products agreed in the agreement.
But Japan’s Nikkei fell by nearly 1% at the close after the world’s third-largest economy recorded its worst contraction in about 40 years.The economy fell 27.8% in the 2019 quarter, while Japan closed to prevent the spread of coronavirus.