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| Version 0 | Version 1 |
|---|---|
| Chinese shares higher on central bank liquidity boost | Chinese shares higher on central bank liquidity boost |
| (about 1 hour later) | |
| Chinese shares traded higher on Tuesday morning after a fresh stimulus push from the central bank to boost liquidity. | Chinese shares traded higher on Tuesday morning after a fresh stimulus push from the central bank to boost liquidity. |
| The mainland benchmark Shanghai Composite rose 0.3% to 2,696.96 points. | The mainland benchmark Shanghai Composite rose 0.3% to 2,696.96 points. |
| On Monday, the People's Bank of China unexpectedly lowered its Reserve Rate Ratio, cutting the amount of cash the country's lenders must hold in reserve. | On Monday, the People's Bank of China unexpectedly lowered its Reserve Rate Ratio, cutting the amount of cash the country's lenders must hold in reserve. |
| The move was designed to boost liquidity and provide more stimulus to its slowing economy. | The move was designed to boost liquidity and provide more stimulus to its slowing economy. |
| It was the first such cut since October and comes after a string of volatile days on the mainland's stock markets. | It was the first such cut since October and comes after a string of volatile days on the mainland's stock markets. |
| Fresh economic data out on Tuesday though gave little grounds to reassure investors. | Fresh economic data out on Tuesday though gave little grounds to reassure investors. |
| The closely watched Purchasing Manager's Index, a gauge for the manufacturing sector, shrank more than expected in February. | The closely watched Purchasing Manager's Index, a gauge for the manufacturing sector, shrank more than expected in February. |
| The PMI index stood at 49.0, down from 49.4 the previous month. Any reading below 50 indicates a contraction of the sector. | |
| Hong Kong's Hang Seng index rose by 0.7% to 19,249.75 points. | Hong Kong's Hang Seng index rose by 0.7% to 19,249.75 points. |
| Weak Japan outlook | Weak Japan outlook |
| In Japan, shares fell as fresh economic data suggested the eagerly awaited recovery remained elusive. | In Japan, shares fell as fresh economic data suggested the eagerly awaited recovery remained elusive. |
| The Nikkei 225 fell 1.1% to 15,857.37 points. | The Nikkei 225 fell 1.1% to 15,857.37 points. |
| Earlier, official data showed that household spending was down 3.1% in January, compared to a year earlier. | Earlier, official data showed that household spending was down 3.1% in January, compared to a year earlier. |
| Along with disappointing company spending, it suggests that efforts to boost investment and domestic spending have so far failed to take effect. | Along with disappointing company spending, it suggests that efforts to boost investment and domestic spending have so far failed to take effect. |
| Strong mining stocks | Strong mining stocks |
| In Australia, the ASX/200 index was trading flat at 4,881.20 points. | In Australia, the ASX/200 index was trading flat at 4,881.20 points. |
| In contrast, commodity giants BHP Billiton and Rio Tinto rose by 2.4% and 2.9% respectively on hopes for a recovery of oil and commodity prices. | In contrast, commodity giants BHP Billiton and Rio Tinto rose by 2.4% and 2.9% respectively on hopes for a recovery of oil and commodity prices. |
| Gold mining company Newcrest climbed almost 5% on the strengthening price of the precious metal. | Gold mining company Newcrest climbed almost 5% on the strengthening price of the precious metal. |
| In South Korea, the stock market remained closed for a national holiday. | In South Korea, the stock market remained closed for a national holiday. |