China stocks jump on Politburo policy shift

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The story "China stocks jump on Politburo policy shift" was covered 2 weeks ago by The Star, a news publisher based in Malaysia.

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The Star 2w ago

China stocks jump on Politburo policy shift - The Star

Quick Summary:

SINGAPORE: China stocks surged and commodities and the Australian dollar found support on Tuesday on Beijing's new promises of rate cuts and a boost to consumption, while global stocks were wobbly ahead of a crucial U.S.inflation reading.

Australia's currency caught a boost from China's policy shift, as did iron ore miners, with Fortescue up almost 7% and Rio Tinto rising more than 5%.

Traders are also expecting rate cuts in Europe and Canada later this week and are leaning towards a cut in Switzerland as authorities may like to tap the brakes on the franc's relentless rise against the euro.The euro traded at $1.0548 and 0.9272 francs.