China's stimulus-led stock rally pulls Asia and Europe higher; oil falls

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SINGAPORE/LONDON: European shares followed Asia higher on Thursday, driven by news of aggressive economic stimulus from China and a fall in oil prices on a report that Saudi Arabia is preparing to abandon its unofficial price target of $100 a barrel.

Shifting expectations of how aggressive the Fed would ease rates this year and next have kept the dollar largely rangebound over the past month.

"I don't think the reaction will be excessive, but the direction will be there," said Jeff Ng, head of Asia macro strategy at SMBC, referring to Friday's data release.

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Category: EconomyBusiness

Markets: MalaysiaAustraliaChinaHong KongSouth KoreaNew ZealandSaudi ArabiaSingaporeSpain

Topics: /Business/Business News Equities Commodities Asia Economy Trading Markets

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Published On: 2024-09-26 @ 16:08:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

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