Chinese confidence remains low despite rate cut

Chinese confidence remains low despite rate cut

Chinese confidence remains low despite rate cut The People’s Bank of China’s surprise interest rate cut late Tuesday seems to have eased the multi-year record declines in the Shanghai Composite Index but investor confidence remains low and the market closed lower, albeit with a smaller drop than in previous sessions this week. Other Asian markets performed better, Japan in particular with a 3.2 per cent rise.

Elsewhere European markets are cautious, despite closing higher Tuesday. Investors are awaiting signals from the US this week that could give clarity on the issue of interest rates.

Wall Street is expected to start higher with the Dow expecting a near-200 point rise from the weak finish in the previous session. 
 
  Latest 1 month ago 1 year ago
 
North America (previous session)
US Dow Jones 15,666.44 (-1.29 per cent) -10.83 per cent -8.42 per cent
TSX Composite 13,150.93 (+0.75 per cent) -7.30 per cent -15.80 per cent
 
Europe (at 5.45am ET)
UK FTSE 5,999.32 (-1.35 per cent) -8.82 per cent -12.07 per cent
German DAX 10,013.51 (-1.13 per cent) -11.76 per cent +4.44 per cent
 
Asia (at close)
China CSI 3,025.69 (-0.57 per cent) -27.55 per cent +30.19 per cent
Japan Nikkei 18,376.83 (+3.20 per cent) -10.55 per cent +18.40 per cent
 
Other Data (at 5.45am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
43.21
(unchanged)
39.37
(+0.15 per cent)
1134.20
(-0.36 per cent)
U$0.7526
 
Aus. Dollar
U$0.7137